[Dick Vomer]

Funny that you mention that. My dad did that and it pays my mom $500/month on one property that he owned. He had about 5 rentals that he collected over the last 30 years and it really helped supplement my mom’s retirement now that he’s passed. They sold them in order to build a nest egg and keep her from having to collect rent and deal with repairs etc...

[kjam22]

Yeah.... It works great for me. I have a couple of rentals for growth. You can always raise rent on those. But selling and carrying a note.... you have no repairs to make. You don't owe taxes or insurance. You just cash the check each month and update the spreadsheet. And you can get a good rate of return.

We did get one back. The couple got a divorce after about 3 years. He was so bitter he wouldn't sell because he didn't want her to get anything. It cost me about $800 in attorney fees, but before it was over with..... they literally signed a quit claim deed and deeded it back to me. I put a little bit of carpet in it and re-sold it on the same type of deal. That's never the goal. The goal is for them to be successful and me to make monthly income. But if you do get it back, you just start over.