Interest Free Mortgages

[Ray Whaling]

Have bought and  sold 2 properties, Took back  0% interest mortgages for 2 year term on each.

Both bought at $150,000 each and sold privately for $177,900 each

Payments $1,000 per month with an option to buy them back at $150.000 if they go into default and default is not fixed within 60 days.  Down payment on both was $10,000 each.  Mortgage amount $167,900. 

Both sold quickly with no banks, no real estate agents.   Anyone doing something similar?