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To: Responsibility2nd

This last time I sold it I had it auctioned off just to get rid of it, I had made my money.

What I did was demand 10% down and then negotiated the payment where I could set the term and interest. When I took the house back most often the owners just lost their equity and I paid the closings.

One advantage to them owning instead of renting was they were responsible for the taxes, insurance, care and maintenance.

I would have been thrilled to have any of them pay off the house, it was a hassle to fix it up for each resale.


30 posted on 03/18/2024 10:12:51 AM PDT by where's_the_Outrage? (Drain the Swamp. Build the Wall.)
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To: where's_the_Outrage?

Your plan with that house is like a buy here pay here dealer.

They sell a car on a 60 month note. But after a down payment and 10 monthly payments... they have made a profit.

If they collect all 60 payments? Bonus! If they have to report the car and resell it? Also Bonus!


32 posted on 03/18/2024 10:31:06 AM PDT by Responsibility2nd (A truth that’s told with bad intent, Beats all the lies you can invent ~ Wm. Blake)
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