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Updated 5 days ago, 12/17/2024
Owner Financing in Pennsylvania
I own about 70 single family homes in the Scranton PA area. I'm interested in selling them owner finance. More interested in land contracts and lease purchase options enough /without needing a lawyer each time.
The properties are worth about 150k each. Thinking about marking them up 20 percent and chsrvyhg interest in the low teens. I don't want to maintain them. I want to escrow taxes insurance and sewer.
Should I do three year balloons?
30 year terms?
40 year terms?
I don't want to make any mistakes in the Dodd Frank act.
I'd like to be able to evict rather than forclose.
Need a loan servicing company?
Are there companies that specialize in helping with this process?
Any advice?
I'm near Scranton PA.