Land Contract for a Quad?

[Claire McCormack]

Thoughts on a land contract vs traditional financing when buying a fully paid off Multi Family (4unit) from a private owner? No liens or current financing on the property - just trying to get the best financing available. This would be our first investment property.

[Tom Gimer]

As buyer I would prefer owner financing (deed + mortgage/DoT) over contract for deed. That would likely accomplish the seller’s goals as well… in the short term.