Seller Financing as Exit Strategy in Indianapolis

[Ed G.]

Hey guys, I’m a California investor looking to create cashflow in Indy.

I’d like to know if any of you had any experience selling houses providing your own financing to the buyers i.e. ‘Installment Sales’ on your properties, by either selling your SF properties on Land Contract, or giving the buyers the Deed straight out, (provided they had a nice down payment to put up)

Since I’m new to Indy, I’d appreciate any advise regarding:

1. Any pitfalls you may have encounter with this particular strategy?

2. What’s the max interest you can charge to home buyers in IN w/o triggering any usury laws?

3. I understand IN is a judicial state. How long does it take to get property back if you have to foreclose (if you gave out Deed)

4. How do you get the property back if you sell with Land Contract and they default?

a) What’s the legal procedure called?

b) How long does it take to get it back?

I’d really appreciate any inputs you may have. Thank you!

To your success!!

Ed