I'm a specialized real estate investor,
for my day work I sell cabins that people move on to there property The business I've been thriving in for many years.. Past few years iv just been selling the shells . I have now converted to finishing the shells out do to it being such a high demand. (It's a massive high demand !! )
A finished out cabin 16x40 2b 1bath cost the customer $63,250 to purchase from me.
The customers I deal with are highly qualified, good credit, good debt to income and own land free and clear.
I'm looking for someone that wants to partner with me to provide my customers financing.
There are a few way to do this .
#1 we start a rent to own company,
Qualifying customers, Make sure they have good credit and income et cetera , customer provide down payment.
Instead of charging interest it will be rental fees. There is a ton of money charging rental fees. At the end of the contract customer owns the cabin.
If customers stops paying we simply repo the cabin, bring it back to my lot and Resell and trust me they sell fast. I throw the word (Repo cabin) online on my Facebook And people flock to it. I will Assign a designated repo Delivery team That specializes specifically in repossessing cabins. (Which I already have lined out). It's obviously not the end goal to repo but it is covered in case it happens.
2nd option.
hold the customers land with the attached Permanent cabin as Collateral. Customer stops paying You get the property.
Set up deed of trust and promissory note just like owner financing.
Set rules and guidelines that must be followed.
We only lend in place that have a good resale value.
I will closely evaluate each property and be in charge of the Resell.
To prevent having to do a foreclosure We work a agreement at closing with the customer If they fail to make payments the property gets deeded back to us to Resell. I have done this with a few properties that I have sold on owner financing
