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<blockquote data-quote="CUZ" data-source="post: 499036" data-attributes="member: 4301"><p>My advice is BE CAREFUL. </p><p></p><p>Several (more than 15) years ago ran into a guy who made the bulk of his money by doing owner financing. The problem was he was a WEASEL. He always had a clause in the contract where if the buyer was more than 10 days late he could repossess the property and all previous payments would be considered rent. If the property went down in value he'd work with the buyer to "help" him out, but if the property had gone up in value he'd take the property back and wave the contract as his reason.</p></blockquote><p></p>
[QUOTE="CUZ, post: 499036, member: 4301"] My advice is BE CAREFUL. Several (more than 15) years ago ran into a guy who made the bulk of his money by doing owner financing. The problem was he was a WEASEL. He always had a clause in the contract where if the buyer was more than 10 days late he could repossess the property and all previous payments would be considered rent. If the property went down in value he'd work with the buyer to "help" him out, but if the property had gone up in value he'd take the property back and wave the contract as his reason. [/QUOTE]
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