I'd rather be a note holder than a landlord anyday!

Just food for thought.

For security the investor will be first lien holder just as any traditional mortgage would be.

If each of these account holders hold a small average of $1,000 in their account, that is a large $100M hit to BofA!!

If you are a long-term holder and the property is high quality, high demand both from a renter's perspective and a future buyer's perspective, and you can manage or get it managed correctly, possibly.

Alisha,I would second what Jon said about talking with the note holder.

Just food for thought.

No big deal in NJ except the added penalty (as much as 6%) and possible interest.But if it's a pending 'tax foreclosure' make sure you communicate with the tax lien holder's attorney asap and let them know that you are purchasing the property and paying off the taxes.

Also I'm a firm believer in the Amazon 2 day shipping with the student discount - I had it while in graduate school and it was fabulous for any book and movies I needed.Obviously, food shopping is the one thing I definitely do in person, and like others said - if it is something I need right then and there, or if the shipping costs are so high that it is worth it to go to the store instead.

Thinking about selling a couple properties and carrying the note.

Questions:
1) What do you require down? (ex: 10%, 20%, 25%, etc...)
2) Pull Credit?
3) Interest rate you charge?

Any other words of advice o...