Hammond, LA · Member since 2019 · 63 posts · 27 votes
Hey everyone. My first deal hasn’t gone as expected. The market for mobiles is tricky. The interested demographic have a hard time getting financing. I’ve had several showings, but the interested buyers request owner financing. The realtor mentioning doing a rent-to-own (or bond for deed). I have friends who do this and love it. I’m not opposed. But would like some feedback. What interest rate is fair? I was thinking 4% with 20% down, or 6% with 15% down. Also, what kind of headaches can this type of deal lead to? Here is the link to the property if interested in providing feedback.