MarathonMike
Diamond Member
I'm going to sell a rental next year and I'm considering doing an owner carry back loan. I've sold homes before, just never did a carry back. Has anyone "been the bank" and done one of these loans? If so, how did it go?
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I did carry a mortgage on one place I owned. Most people only live in a place for five years. This is the heavy part of a mortgage and most of the money is interest.I'm going to sell a rental next year and I'm considering doing an owner carry back loan. I've sold homes before, just never did a carry back. Has anyone "been the bank" and done one of these loans? If so, how did it go?
So that was great for you right?I did carry a mortgage on one place I owned. Most people only live in a place for five years. This is the heavy part of a mortgage and most of the money is interest.I'm going to sell a rental next year and I'm considering doing an owner carry back loan. I've sold homes before, just never did a carry back. Has anyone "been the bank" and done one of these loans? If so, how did it go?