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Updated over 16 years ago,
Private Financing Question
Does anyone use a third party to finance deals on land contract? I had a few good deals that didn't go through because of someone being in their home and not able to get another mortgage to buy my property and so forth. I would think that offering financing would be a major draw for a number of first time flippers and rehabbers.
This is the process that I was thinking about (Criticisms Very Welcome. Tell me if this sounds like a jackass idea)
-Find an end buyer for a home needing very little work.
-Contact third party to buy the home with hard money
-Negotiate the sale from the third party to the end buyer on a land contract (Or let them do it themselves.)
Does this seem like a crack-pot idea?