cash or owner finance
Hello everyone, I had a investor contact me here recently about making a purchase on a property I own. He is wanting to know whether I want cash or to do owner financing. what cash I can take the money and run or take a chance in finance it and also collect interest. I think one of my other choices could be to do the owner financing and then to sell the note to somebody else. I am Not sure though what would be the best scenario and what kind of tax breaks I could get for either of the different scenarios. I have only done an owner financing once in that was to a tenant already living on the property that was always current on his rent. if I decide to do this owner financing how can i screen this guy to check his credit score and anything else that I would need to know before doing an owner financing should I ask for help with a local title company on this process. thanks in advance to any response to this all advice is appreciated.