Succeeding in Cleveland Ohio with this Plan

[Brian Gibbons]

We are implementing 2 plans at once in Cleveland area:

Lease Purchase Assignments

Purchase REOs and Preforeclosures with Private Loans - then selling on terms with land contracts or lease options.

Matt will fill you in on his thoughts. I will post our success on BP for others to learn.

[Chris L.]

Brian,
Will you provide an actual example of what you are doing selling these properties on land contracts.
I would like to know:
Total cost basis (purchase price, rehab, holding costs)
Selling price
Amount of buyer down payment
Terms of the agreement (Int rate and lenghth)
What type of screening do you do for your land contract buyers.

I hope you don't mind the detailed questions. I am contemplating the advantages of a properly structured land contract deal over a straight rental.

Thanks for your time.