Flip or land contract pickle!!!!

[Joshua Todd]

Happy Christmas Eve to those workaholics out there! I have a unique situation that requires a trained eye. I purchased, renovated and listed by owner a SFH seasonal home for $195k. Current mortgage is at $96k. A cash sale would be great as we will clear $99k and would be able to reinvest. The conundrum comes as I've been offered a land contract at purchase price $195k and buyer will put 50% down or $97.5k and seller finance the balance. Seller carries the mortgage. I would still clear the same amount of usable capital in the land contract, plus get the monthly cash flow that is the model for my business. Seller financing would allow buyer to finance $95k over 30 years at 7%. I plan to use the cashflow to pay down the mortgage early (22 years). Only other caveat is the 5/1 ARM I have on the home becomes adjustable Feb 2018. Any insight would be greatly appreciated! Josh Watertown New York Land Contract Seller Financing Cash Flow