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Updated about 3 years ago on . Most recent reply

Corey Woodruff's profile image
Corey Woodruff's profile image
Corey Woodruff
  • from Saginaw, Michigan
  • Member since Mar 5, 2016
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Corey Woodruff's profile image
Corey Woodruff's profile image
Corey Woodruff
  • from Saginaw, Michigan
  • Member since Mar 5, 2016
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Corey Woodruff
  • Saginaw, MI
66
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161
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General Real Estate Investing

Land contract deal

Corey Woodruff
  • Saginaw, MI
Posted

Buying a mobile home park on land contract do you guys have any advice on how to stay protected in this deal. Any advice is greatly appreciated!!!!

Thanks Guys,

Corey 

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Steve Vaughan's profile image
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Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan's profile image
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Steve Vaughan
  • #1 Personal Finance Contributor
  • Rental Property Investor
  • from East Wenatchee, WA
  • Member since Sep 19, 2014
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,108
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

Hi @Corey Woodruff.  A big way I would protect myself is to use a Note and Deed of Trust or Mortgage as my seller-finance medium.  Land Contracts stay in the sellers name until they are paid off.  

The other is a ton of DD prior to purchase.  Good luck!

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