Thanks in advance for any insight on this item.

I am preparing a tax return for another investor who converted her tenant to land contract.

This property was purchased in 2005 for $106,000. The investor is tired of...

And even if prime goes to 4%, 5%, 6%, or even 7%, that's still relatively cheap money.Perhaps most importantly for you, though, what are your funding alternatives?

I am also looking for a good alternative?

Alternatively, can anyone find a note investor to do the deal for me it over 5 years or so?

I get several other spam mailers and just delete them in most cases I don't even bother to open the emails.Seems like a good flogging or waterboard treatment might come in handy.

From a federal view point, anyone making a loan on a residential property will need a license with few exceptions.It will probably be easier for you to find an existing mortgage broker and work with them.While recent laws were enacted with a consumeristic public cause, they really help limit competition and alternatives that benefit banks.

An alternate title for my post could be 'Flippers and the Law of Diminishing Spreads'!

Since you are not a lender, most likely you will need to find the borrower and have them provide you with a letter requesting that the bank sell you the note as an alternative to foreclosure.

Interior maitenance in my responsibility.I'm almost finished with a minor renovation which included a rip-out of ugly paneling, a re-paint of everything including walls, doors and trim, replace some window treatments, repair and clean carpet, new dishwasher.

Joe,As Jason stated, never jump into an investment without a plan and alternative exit startegy(ies).