Posted by Jeffrey Short on January 27, 2000 at 07:35:12:
You could do what you are talking about… since I am sure that you can find investors for any type of note. The basic question is why?
If you structure it right, your buyer’s down payment should cover your purchase price (or pretty close to it). Then you would have monthly payments coming in for the next 2 years or so. But, there is something else to consider…
What if you buyer fails to keep his/her monthly payments current? Well… since you still have title… you can claim the MH back and re-sell it to someone else. And continue to do this until someone pays off their loan in full.
However, I’ll let Dirk, Lonnie or someone to correct myself…