The Sell Land Contract Strategy
Use the Sell Land Contract strategy and get the home sold. See the Success Story Below. Buying on a land contract and land contract selling for Rehabbers and Home Owners means offering the terms that home buyers need, when the banks and mortgage companies are turning home buyers away.
Investors: Buy Land Contract - Sell Land Contract Do what Steve did, (His story below). You can borrow money from a private money lender to buy a fixer upper, including the fix up money, on a land contract. The special condition is a 5 to 7 year loan period and a limited due on sale clause. Losing Homes and Vacant Homes Losing an unaffordable home? Turn around and buy an affordable home from a private investor! Vacant homes need investors to buy, repair, and find new buyers for them. The sell land contract strategy works well when the new home buyer doesn't have the cash on hand for the repairs a vacant home needs. In some cases the new buyer cannot qualify for the strict guidelines to get a new mortgage especially on a home needing repair.
The "Sell Land Contract" Success Story
By: Steve S. Michigan, U.S.A. Hey Joe, I just wanted to drop you a line to Thank You, and tell how helpful your Land Contract E-Book was for me. Last Tuesday I closed on my first For Sale by Owner, Land Contract sale. I followed your outline and guide, then handed it all over to the Title company to prepare. It went very smoothly and I was able to both understand all the aspects and benefits and explain them to my buyer as well. I got my full asking price with 10% down AND 9% interest and without having to negotiate or help them with their closing costs, or FHA fees. My buyer is happy, because they are now Owners without having to qualify for a Bank Mortgage or go through all the hoops of a Mortgage broker. At the same time, I was able to convert my high interest, short term, interest only, private money loan, into a 7% long term, interest & principal loan With your help, I was able to convert a $600 negative cash flow into a $200 positive cash flow and eliminate all my upkeep and headache of that property. Land Contract is definitely the way to go right now. My buyer was in foreclosure and headed for a bankruptcy but had enough money for a down payment and has a good job history. It is a win / win for both parties. Thanks again Joe. Maybe I can buy you lunch sometime. I have a few more recent success stories that I would be happy share from the information you provide on this site. I can officially say "I'm flipping houses", thanks for the help. The sell land contract strategy is just what I needed to keep me in business. Thanks, Steve S. Michigan, U.S.A.
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