2/2 Winter Haven, 15k, currently rented at 450/month
First off, i'm a fix/flip guy. I honestly realize we can't be landlords as we are horrible.
3607 1/2 Ave T Winter Haven Fl
We bought this place 2 years ago and were bogged down with other property at the time. Within a short period of time we had a sign call asking us if we were willing to owner finance, which seemed at the time like a good idea. This person didn't have the 5k down we typically want though so we ended up doing an "as is" contract with the condition she is automatically approved for an owner finance note if she rents the home for a year and doesn't miss a payment. Rent was 450/month. Owner financing would be 400/month there after for 10 years. AKA 30k purchase price at 10%, 10 year amortization.
She put down 1k and moved in. 2 years later and a new metal roof (currently leaking) the place is still having problems and somehow i've turned into a slumlord. In my little world i rented it to her "as is", somehow along the way she quilted me into a new metal roof and other repairs. The place obviously needs even more. The only reason i've allowed this to continue is she continues to pay rent, deposited into our account each month without any hassles thus far. It seems she doesn't really want to be the owner and I don't either. The return is great but I've got bigger concerns than this so to speak. She lives off a disability check so money is tight, but she typically pays right when her check clears.
Anyone interested? I'd be open to holding some paper