Contract For Deed
I have a question, there is a guy in my town that all he does is contract for deed...I was wondering if it was a good investment to buy one of his houses for contract for deed and if it was possible to actually rent it out... Since it is under contract for deed.... Doesn't that basically mean that I can do as I wish wish property as long as the value stay current?
Justin :-?
lupinsight1,
Glad to meet you.
You are on the receiving end of an investor selling and using a contract for deed, I am not saying this would not help you in your current situation.
However, Contract for Deed means you do not get the deed until you fulfill the terms of the contact, unless stated otherwise in your contract then yes you could rent the property out.
I think you will find out there is not enough room for you to make money renting the property, contract for deed is normally used to help buyers purchase a home to live in.
John $Cash$ Locke
[addsig]