All Forum Posts by: Sam King

@Scott Wolf, The house would be free and clear.  I would be looking at an owner-financed sale.  What kind of interest rates and time frames(5 or 10 year) are usually done and thanks for your input.

Definitely will get a Lawyer.  Just interested in examples of down payment percentage, interest rates compared to prime, and balloon payments. 

I have tenants in one of my single family properties in South Carolina for going on 6 years.  They have been paying steadily and have asked about buying the home from me using owner financing since their credit isn't great.  I have never done an owner finance deal and would like some suggestions on how best to do it.  Home is valued around $160k.

Just rent collection.  I manage myself, just looking for something that my tenants can pay with.

Can someone recommend some online rent collection services?  

I currently have a good tenant, but believe the rent is at least $100 less than similar properties in the area.  I have heard from one source to slightly increase rent every year lease.  I have also heard that if you have a good tenant, to keep rent the same for 3 years and give 6 month notice that you will increase to recommended amount.