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Updated about 7 years ago on . Most recent reply
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Rent-to-own VS Deed of trust?
I have owned a mobile home for the last year. It has provided awesome cash flow. The park is changing the rules and I can no longer sublease. So I need to sell the home.
I've found several interested parties who all need financing. I am willing to provide the financing. What are your opinions on doing a rent-to-own route versus selling the home using a deed of trust?
We are leaning toward the deed of trust route right now. We are selling the home for $35K. Your thoughts on how much the down payment needs to be? Is requiring 7% interest way too low? Should I be expecting a higher interest rate?
Two of the parties are fine taking seven years to fully pay off the home.
Your thoughts and advice on this type of deal is appreciated!