Owner Financing and Manufactured Homes (Texas)
Hello!
My mom and I are working together in our real estate investing journey and we're beyond excited. We've bought 2 mobile homes and they should be fixed up by the end of this weekend (a whole other experience learning to work with contractors). Anyway, we're wanting to help people own their own homes, but we're getting a lot of mixed messages.
For context, we're located in Texas. I've heard that "seller-financing" and "lease to own" is illegal, but "owner financing" is okay. Then I also hear that you can't do it at all, but I hear of people doing it all the time. I'm very confused. Any guidance would be very helpful! We have an interested tenant and he doesn't have enough to buy the home, but he'd like to own it and live by his veteran friends. We really want to help him. We could go the renting route, but he'd prefer to own it after a few years. What is actually legal to do? And, any guidance on what contract we should refer to or use would be VERY helpful.
Thank you in advance for your insight!