Getting Out of the Real Estate Business
It sure seemed like a good idea at the time. You sold a house you inherited and found yourself with some cash in your hand. Then you turned around and spent most of the cash on an old rental complex which you then resold. Now you are carrying a private residential real estate seller refinancing note.
You are receiving a payment each month for the property, but your life has drastically changed since you completed this deal. When you bought the property, college expenses seemed a long way off. Now the oldest son is ready to start college, your house needs a new roof and you need to prop up your savings account.
You can sell your real estate note and get cash now. Not only do you get cash, but you won’t have to make any more collection calls for your note payment. The son’s tuition gets paid and your personal residence gets a new roof. It’s a win-win-win situation which doesn’t happen often in life.
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Just wanted to say HI. I found your blog a few days ago on Technorati and have been reading it over the past few days.