The state is Arkansas the current properties are in. I own it outright and acquired them cheap. So if I owner finance them I’ll be able to sell for 3x what I got for it plus interest is my thought process. Sorry I am new to this and have been actively researching the concept. I am looking to get more into the mortgage note business but feel if I can buy properties at a huge discount the create my own notes I would be better off then buying someone else’s note.
Example of one I have when I lived in a different state.
bought from a highly distressed seller for 10k cash. Sold to someone and they put 4k down and the pay roughly 602 a month for 10 years.
I figured if I can do more of those it would generate significant cashflow to help me keep acquiring properties/notes.
I am under 30 years old and like the concept of the chance to get paid for 10-30 years and not deal with tenants.
I appreciate all the comments and any advice. I do have a meeting with an attorney in two weeks and just want to get educated before going in and have my game plan set.
