Buying & Selling Land Notes
If you purchase land wholesale for 15,000 on a note with 150/mo payment , can you then sell the same land on a note and retail for 25,000 with a 250/mo payment?
I'm new to this and trying to figure out how to make a cash flow using land notes.
Thanks,
Deb
In theory yes, but I am not sure what bank will loan money on a house when you do not technically own it. I know that leasehold is common in some areas (NYC).
What if neither plans to build a house before the land is paid off or the deal is structured that the land has to be paid off in full before building?
Thanks,
Deb