Updated almost 11 years ago on . Most recent reply
Seller Financing for Flips?
Hello there everyone, I just wanted to get some opinions about seller financing for flips. If you have a seller who is willing to do a short term land contract and you plan on getting into the property and trying to get it done ASAP. Is this a good idea?
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Jon Holdman
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
Land contracts are not limited to vacant land. Improved properties can and are sold with land contracts (aka contract for deed.)
If you're going to pump money into improvements you would want an open-ended agreement. Otherwise you run the risk of running out of time and having let the seller take the now-improved property back.