Home Buying or Selling in Charlotte via "Land Contract" or Owner Financing? Questions... (rental)

[carolinagirrrrrrrls]

Has anyone ever bought or sold a house via a "land contract" or similar owner-financing arrangement? Would you recommend it?

We have been told by numerous realtors that our house in Lincoln County is by far the best resale in the neighborhood, and our price per square foot is really low, but the market is so slow... We'd like to get this show on the road already!

Is doing a "land contract" or similar owner-financing something that any of you have had experience with or would recommend or advise against? I'd love your input. Thanks!

[LKNArea]

A lease option can be good. We do them all the time. Its a good way for someone with on the fence credit to be able to get into a home. Owner financing can be OK but it is still going to show up on your credit when applying for another loan so make sure you give yourself enough buffer. All rental income only counts up to 75-80% so if you are charging $1000 you can only count up to $800. This can hurt debt to income ratio etc.

Just rent it and start your portfolio