slow flip strategy / seller financing
Had a question about slow flip strategy which I'm green to, but definitely interested in. I have a portfolio of rental properties, but dealing with tenant issues & maintenance sometimes can be very stressful & time consuming. Once a property is procured (often a distressed property) & then remarketed for sale at a much higher price on my financing terms As Is, I'm unclear on what's needed in SC for closing. Everything about this method mentions contract for deed & some general compliance/disclosure forms which for many reasons is more attractive for me, but SC seems to favor deed + promissory note + mortgage. If you're the one financing, wouldn't it be better going the contract for deed route where you hold the deed until payoff & can essentially recover easier if buyer defaults? Are there any investors on BiggerPockets that have done these owner financed deals that can share some insight?
Most Popular Reply
Welcome to BP! Honestly, I'd put the car in park and consider why your considering a new strategy.
"I have a portfolio of rental properties" - What exactly is wrong with these properties? Rent collection, PM, poor tenants, etc.? If you have these problems solve it or sell it. Jumping into a new buying strategy isn't exactly the best use of your time in my opinion.