Single-family residence note investment investment in Lyman.
Purchase price: $125,000
Cash invested: $15,000
Owner financed property.
What made you interested in investing in this type of deal?
This was a property I owned in SC and was having a hard time finding a qualified buyer so I owner financed the property.
Lessons learned? Challenges?
Always do a credit and background check.
I have sold a properties using owner financing and like because they can be a win-win situation. The new owner gets the property without too much hassle (like when getting a mortgage from the bank) and I continue benefiting from the property getting my interest and deferring the taxes in the profit from the sale.
I agree with you doing a credit and background check is very important to avoid problems down the road.
@Greg Wilson thanks for sharing!
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