What I intend to do on a property I've heard called a real estate contract, but may be lease to own... Basically sell it to someone with credit issues, with a down payment, where I carry the note.... ideally I would have a note myself on the property... but I digress.
What's the forum for this sort of setup, and is there a different term I should be thinking?
It is called a land contract, contract for deed, or installment contract. You will want a large down payment in case you have to foreclose on the property because it will probably require the help of an attorney.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you