Contract for Deed strategy?

[Greg P.]

IS there any kind of strategy where I can sell a contract for deed to another person for a contract for deed? For example, if I buy a property on a contract for deed at $120k, 10k down and 6% interest, am I able to sell this contract for deed to another buyer on a contract for deed at $155k, 25k down and 7% interest? Please let me know. Thank you.

[Brian Gibbons]

Hi, you are talking about Sandwich Land Contracts, where you buy (In Minnesota) on a Land Contract, and then sell on Land Contract.

I advise you get an attorney that has court experience re: Land Contracts.

I found this MN attorney's explination:
http://www.jphoffmanlaw.com/realestatelaw_faq.html
No affiliation, so be skeptical and careful.

Some states are really awful w/ Land Contracts, and some are terrific. I like GA, can foreclose easily and quickly.

For those who do not know Installment Sales, the IRS allows anyone to buy and sell residences.

What is allowable by Tax Law and by individual State Law is not always congruent. See Texas.

For IRS: See http://www.irs.gov/taxtopics/tc705.html

Brian Gibbons :lol: