The graceful way to retire and help young people get a home. If own more than one home. And it's time to retire. Consider seller financing. Here's an example: You have three houses. The home you live in and a couple rental houses that finally paid off. The home you live in is $350,000. The two rental houses are $200,000 a piece. The rental houses rent rate averages 1500 a month each. That means you have about $1,800 of net cash flow plus your retirement and social security check. If you seller finance the two rental homes your cash flow increases because they now take on the responsibility of the expenses. You can get around 10% down or $20,000 each. So you have a little cash for your pocket. And your payment should be $1,500 a month each for 30 years at higher than market rate. But you get to choose your buyer not the bank's qualifications.
@CreateNotesOnRE Be careful with doing this too many times. Most states limit you to three or four of these transactions before you have to involve a mortgage originator.
@CreateNotesOnRE @CaseyMericle I’m not concerned about the return ON my money as much as the return OF my money. No longer interested in chasing down what’s owed/people who try to scam. I had multiple houses - just sold them.