Anyone ever tried this??

[Zac P.]

I have been buying really, really cheap homes. I'm doing pretty well with them. However, right now I'm financing them on commercial bank loans (through my LLC) and ARM's. I don't want to do many more ARM's and the 20-25% down is rough. I know a number of people with money and are looking to park their money in some kind of safe investment. I was thinking of seeing if they wanted to give me the cash to buy these homes in full ($30-50K) and they would basically be the bank... I'd love to get in 0% down with a fixed rate 20 year or so. So basically they would get a "mortgage payment" check each month for 20 years. Has anyone ever structured something like this? If so, what were the terms? Working well? Thanks guys.