Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Wholesaling
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago,

User Stats

15
Posts
2
Votes
Gilbert Vigil
  • Rental Property Investor
2
Votes |
15
Posts

Exit scenarios for my REC?

Gilbert Vigil
  • Rental Property Investor
Posted

Hey everyone I currently have a duplex I purchased under a real estate contract using owner financing. I am for clarity purposes trying to nail down the best exit strategy. 

I can sell the property outright to a new buyer 

Refinance the property and take out some equity (this option wouldn't be a reality for a while longer) 

Potentially flip the contract to a new buyer that would have to agree to the current terms of my note (10yr 4.5% 5yr 5k baloon)

Regardless I would like to take some equity out or exit entirely to reinvest capital elsewhere.

Any suggestions? 

I personally like the idea on finding someone to take over note however I am unclear with how this works. 

Is it safe to assume I would take the difference between appraisal and loan balance and new buyer would take over the note responsibilities?