Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago,

User Stats

6
Posts
0
Votes
James Landsford
0
Votes |
6
Posts

Calling it quits and selling out via owner finance… Mistake?

James Landsford
Posted

I am new the forum but have used BP for years. I currently own around 30 rentals, all free and clear, in the Houston area. In the past year and a half, I have grown increasingly tired of the in and outs of land lording and am having a harder and harder time dealing with tenants and finding decent labor. I had an investment group reach out to me and over the past few months we have gone back and forth regarding a potential owner finance deal for my 30 unit package. The group has the 10% down I am asking, is willing to pay 9.99% fixed IR and pay 90% of the appraised values per home. I am highly tempted to explore this deal as it would allow me to have a solid monthly income, remove me from the ‘game’ and the internet seems very attractive.

I have already spoken to an attorney who will draft the contract, note etc. and serve as the trustee. 

Is there any downside to this type of a deal for a seller? I am 42 and am at the point where I am really losing interest in the business.Thanks!



Loading replies...