Owner Financing Notes - For Land Acquisitions

[Christopher Greiwe]

I was wondering if people could help me.  I am in the middle of my first land acquisitions, and was wondering if I should consider offering owner finance for these properties that we are buying and selling in Ohio. To make this decision, its important for us to understand what the secondary note market is like in Ohio. Meaning, if we sell with owner finance and are left with the note, how much can we sell that note for? When selling a note in the current market, you have to sell at a discount but we are looking for more information on this in general specific to Ohio.  Can someone help me with resources on this?

It's also worth noting that if we do owner financing in Ohio, we will be doing it with raw land and a contract-for-deed. That basically means that we will sell the property to somebody under the terms that they will pay us X amount per month for Y years and at the end of the term when we have been paid in full, then we will deed them the property. I believe that makes it easier to foreclose on a property if someone goes delinquent, which will be important for a potential note buyer to know - is this the case?

Thanks so much!