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    upyooper's Avatar
    upyooper Posts: 5, Reputation: 1
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    #1

    Aug 28, 2007, 06:03 AM
    Land contracts good or bad?
    Is anyone fimiliar with land contracts? I have 3 homes I rent but a friend asked me to check into land contracts since I have had bad experiences with renters destroying my property. Is there money to be made in land contracts? Need someone's advice who has dealt with land contracts before. Thank You
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Aug 28, 2007, 06:14 AM
    Do you mean Contracts for sale? Whereby a person buys the property from you under a contract rahter then obtaining their own financing? If not, then please define further.
    upyooper's Avatar
    upyooper Posts: 5, Reputation: 1
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    #3

    Aug 28, 2007, 07:37 AM
    I own the property and would like to sell under a land contract for say 10 years, is this good or should I consider staying with lease option? I have had trouble with the lease option because I have an investor who finds the tenants but he hasn't been doing his job. Some have moved out and broke their lease also destroyed the property. I have tenants in to others and their behing on their payments. I have just gone and seen a lawyer and am going LLC. But which is better? Going under a land Contract or staying with the lease option. Thank You
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