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Updated about 7 years ago on . Most recent reply
Using Seller Finance, but needs ton of work?
So I came across a Multi-Family that is currently being rented out, but the build needs a ton of work. Has anyone ever done sellers financing, then done rehab, an turn around an get a mortgage under your own name? Feel like there is a lot of risk to this, but also a lot to gain. Just looking for thoughts.
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Steve Vaughan
#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
The main risk to me would be to rehab something you don't own like with a Land Contract or Contract for Deed. You own zip with those until you pay them off.
Mortgage/Deed of Trust only or no deal for me.