I just did my first Land Contract deal on friday! I put the house that I currently live in on craigs list up for rent and I had an older lady call me last wednesday! She lives in West Virginia right now(I am in Ohio) and wants to move here! I got to talking to her and found out she is a full time nurse she is 54 and her husband died about 5 years ago and she get money from his pension every month! She said I have owned my own home since I was 17 and this is the first time I am going to rent! (She is from Ohio) So I asked her why rent? If you don't think you can get approved right now I will land contract you my house for 2 years!!
Well that turned a light on inside of her and she was like that sounds like a great idea! She came and looked at on Friday told me to give her until today to decide! She just emailed me back and said she wanted it and excepted the terms I gave her!!! 2 year contract on a 30 year amortization at 8.5% interest with 3% down.
So guess I better find another place to live!!! I didn't expect it to go this quickly!! lol