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Updated about 8 years ago,
Creative Way to sell a condo
Hello, I'm new to the investing. However; I did purchase a small condo in the Lakeland, FL area a few years ago for my son and family to live in while in college. Now that they will be graduating soon, I want to sell it. It's completely paid for and worth around 40 - 45 k. I was thinking about offering for sell at 20K down and 600 per month for 10 years. So; I guess I would carry the loan. I have heard some of the Real Estate seminars say they do something similar with Mobile homes so I'm thinking why not for this small condo. The buyer gets there home paid off in 10 years, and I get half the money immediately. Of course I probably need to calculate some type of interest on this also. Can anyone offer any suggestions? Is this a horrible ideal? Good Ideal? Should I just sell the normal way? Thanks in Advance
Jimmy