I want to be the Bank: Got specific tips to share?

[Mark David]

Hello friends,

My original thought: I want to help and not gouge people.... like a regular bank does. Nice, eh?

My second thought: Sell as is in May for approximately , with a 25 year note. Minimal down payment to avoid huge capital gains taxes and allow 1650/mo in rental income for the first 5 years with a $200 month increase every 5 years which would allow them to pay it off up to 15 years sooner. And...maybe a 6.5% interest rate to grab more attention for this $309K valued home? Would love to chat by PHONE if anybody is willing to throw in some fantastic ideas! Much appreciated. In the meantime, playing around with the finance calculator for potential options that work well for the buyer and me. Win, Win.

[Eugene Fedotov]

1. Read about Dodd-Frank Act.

2. Find out how difficult would it be to do foreclose on the property in case new owners do not pay. 

3. You will not be collecting rents but mortgage payments. It has different tax implications.