seller carry

[Jim Doine]

Does anyone seller carry their flip properties. How much down do you require? What interest rate? Is there a balloon requirement? How far out? Have you had any defaults? I appreciate any feedback.

[Frank Adams]

That's my major source of income.

I only require $2000 +/- downstroke

I don't really run credit checks

30 year amortization, 5 year balloon

I think the last couple I did I charged around 8 or 9%

I've done probably 40-50 of them, probably had 3 or 4 come back, and I always sold them for more

BTW, I'm not selling "normal" market price homes. I do stuff in the $60-$90K range, my typical buyer is a PAYMENT BUYER, not a price buyer. That is they buy houses the same way most people buy their cars. The salesman asks how much PAYMENT they planned on making and then adjusts the price/terms etc to fit tha payment.

My typical buyer is a working class, younger 25-35 year old couple. I've had EXCELLENT results with blue collar Hispanic couples. IIRC my foreclosures have generally been when I went outside my "normal" price range of house or buyer type.

There are lots of threads on this. I think you can search by my screenname, I've posted on it a lot.

Good luck

all cash