Carrying paper on four places in Oregon right now. A little shaggy rental house we sold to the tenant in 2016 on a 30 year contract with modest price, low down payment and interest. Payments are coming in with regularity once the buyer figured out how to include the taxes and insurance with his P&I and use auto-pay.
Shaggy student 9-plex sold in 2020 that the buyer did a 1031 exchange from his rental house into. Smart move on his part as his sale generated about a decent 25-30% down payment on our place. ten year balloon. Regular time payments sure feel like he's using autopay.
Sweet 1940s 8-plex sold to someone in a sweetheart deal in 2021 - about 12% down, darn low price, 30 year contract that vanishes after wife and I check out. No real estate agent, we're paying capital gains as the principal comes in, but mostly it's just interest income.
A small trailer park with 15 acres on the way to the mountains - lots of trees, a small brook - cool place, should have kept part of it, but we got it via foreclosure after lending on it. Not fun and we put a summer in working on it to beat it into saleable shape. And paying bills that the borrower walked away from. Our buyer got in with low down and commonly missed and was late on payments. That one was supposed to pay off with a ten year balloon last November. Surprise - he was going to sell it to make big money and pay us off, but his buyer needed till the end of December. I gave him six months, which meant he would pay us off mid May. He made his December and January payments, then quit paying. Sent him a letter; he didn't respond, I handed cash to a lawyer who sent another letter and started default interest. Kept the lawyer from proceeding further with the foreclosure because I said I'd give him till May 15. Excuses have gotten him a month past that time, but last Friday the Title company said they had funds from the sale but the seller needed to bring in one more thing... then Juneteenth, so we'll see about tomorrow. People persist in being themselves. The default interest mollifies me somewhat..
Hoping to sell a little coast lot we've had for 12 years at month end - very low down, low price, 3 year balloon. Handed the buyer to a RE agent who claims she could have done much better, but the lot is going to the neighbor, which is the right place for it.
Starting the listing on a triplex - photography on the 26th - and will offer owner-carry.
Suggestions: more down, more better. Foreclosure is a painful process and expensive, and it costs about the same to foreclose on a $30k parcel as a $300k. Find and use a small local private collection escrow company vs a big chain. Huge value in having an escrow company with the same 4-5 ladies for the last 20 years. When you call in with a problem it's way easier and things get done.