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Updated 5 days ago, 12/17/2024

User Stats

50
Posts
38
Votes
John C.
38
Votes |
50
Posts

Owner Financing in Pennsylvania

John C.
Posted

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.

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