Sell Note or Hold on for Cash Flow

[Josh McGowan]

Quick Introduction - I am a long time reader, first time poster. I’m in my mid 20s and teach accounting at Troy University. I am a CPA and real estate agent in Alabama. I am interested in raw land investing.

Recently completed my first deal. Bought raw land for 12,000 and sold it for 30,000 on terms. 5k down, 10% interest, 7 years. As I would like to keep investing in raw land, is their any market for a note in this range? I am worried the balance is too small to be attractive. 

Another option would be to keep the note and use private money at 6-7%. Any thoughts would be appreciated.

Thanks!