Looking to purchase then Owner financing
Hello, I have been tapped into bigger pockets for about a year now.
I really appreciate all the great insight.
I am selling a business and am planning on some real estate investments.
I am tossing around the idea of purchasing land, setting up a manufactured home. Ready to move in.
I need to generate monthly income with my investments. Trying to work smarter instead of harder!
I wanted to put out some feelers on this forum, because i have heard nothing but great things about the forums at bigger pockets!
my plan is to then turn around and owner finance the mobile. Think20% down, 9% interest, etc. Rough numbers.
I'm thinking I can be all in approximately $150k. These homes here in north central Florida are going for about $225-250k. On an acre +.
Again, rough numbers!
I got the idea because of my own situation being self employed. It can be difficult to get a conventional loan. And there are plenty of folks in this area who are self employed.
I was looking for some feedback.
pros, cons.
thank you
Dean