Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
2y
@John McKee
We took back a house at foreclosure (here are just several examples)
It needed a lot of work so we seller financed it to a contractor and had them put $5k down vs paying cash. They had six months to rehab the property and sell it so they could pay us back
Another instance we took back a property and sold it to an owner occupant and had them put 10% down and financed it to them at 9.9% with a 10 year amortization
We have done 30 year amortization as well with a ten year balloon
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