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Updated about 1 month ago on . Most recent reply

James McGovern's profile image
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James McGovern
  • Flipper/Rehabber
  • from Bloomfield CT
  • Member since Oct 7, 2020
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James McGovern
  • Flipper/Rehabber
  • from Bloomfield CT
  • Member since Oct 7, 2020
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James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
145
Votes |
682
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Buying & Selling Real Estate

Is this a dumb idea?

James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
Posted

I have decided to sell my next few flips to home buyers with sellers financing. Is this a dumb idea? What do you think could go wrong?

Hartford, Connecticut
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Cole Bossert's profile image
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Cole Bossert
  • Real Estate Broker
  • from Boone, NC
  • Member since Nov 2, 2024
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Cole Bossert
  • Real Estate Broker
  • from Boone, NC
  • Member since Nov 2, 2024
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Cole Bossert
  • Real Estate Broker
  • Boone, NC
54
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82
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Cole Bossert
  • Real Estate Broker
  • Boone, NC
Replied

Not dumb, but risky. Biggest issues: buyers defaulting, tying up your capital longer, and legal headaches with foreclosure. Screen buyers hard, get a solid note and deed of trust, and use a real estate attorney.

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