Owner Financing

[Charles Wilson]

Hello group,  I have two houses that I purchased outright for rental property.  The houses are both rented and have a two year lease.  I am thinking about selling them, with owner financing.  Would like to work with an investor.  And have a loan service handle the note.  Can anyone help with the steps to do this..  The terms I was thinking about are 50%down, 10% interest for 10 years 

[Devan Mcclish]

@Charles Wilson depending on how much the property is 50% down is going to be very difficult to get. If it's a 100k property, you're asking for 50k down with 10% interest, why would anybody take that deal when they can go to a bank get less than 4% interest and 5-20% down? and if they do not have the credit to buy it, they could easily go pay cash for something less or rent.

And even if it's a cheap property of 30-50k, again why would someone pay 10% interest for 10 years?? 

I would say more like 25% down and 6% interest. But hey, if you can get what you're asking go for it. just food for thought