Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
7y
Many, many, many times BUT since Dodd & f'Frank we now only hold for investment properties. In 30+ years we foreclosed once, (divorce situation but had paid us for 12 years & they left it in great condition). We then resold it to an investor friend for 2x our original purchase price & we hold the note @ 12%.
However, the flip we got stuck with last year (partner bailed) was an exception. Kids came in with $50k cash & we hold the balance.
Rental Property Investor · Winslow, ME · Member since 2008 · 826 posts · 281 votes
7y
Only twice. I'd LOVE to do it again for tax purposes. 1.) Woman drained her pension and gave us 25K down on 60K property. Was late with first payment and we owned it again after a miserable 18 month /$5,000 foreclosure process. 2.) Then I sold my biggest building to an out of state investor. was going to do 10% seller financing but bank wanted to put restrictions on how he could pay me so I sold him that building (11 unit) traditional and seller financed (100%) a 2 unit to get him more units under control for less money. Both were great deals for me, great deals for him.