Buying an investment property with cash - where to start

[97guns]

i have my rentals listed on zillow and got a call from an agent that has a client with zero credit, they are looking for an owner to carry them for 2 years then payoff in full, they would give me 2% down and interest only payments of 6% at $225K. it works out to $1125 a month, just about what im getting for rent, i paid 86K for this place in 2009.

i crunched the numbers and after a lot of mulling it over i had to decline, the income is just too valuable to me. i would buy another to replace it but i dont know what the market will be like in another 2 years + i have a loan on this property and the tax deduction helps tremendously - i was very close to pulling the trigger on it.

[tripods68]

Have you thought about buying REITs? It does pay regular quarterly dividends (VGSLX) without all the headaches that comes with owning rental property.

[syracusa]

Have you thought about buying REITs? It does pay regular quarterly dividends (VGSLX) without all the headaches that comes with owning rental property.

We did but the cash flow is too low.