I believe I can do this but then again I thought I would ask. I have a gentleman who is very interested in purchasing a property I have that is currently under an Installment Note that I am paying on. I would make between 40k to 60k if I choose to do this…the question is, am I able to?
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Yes, this is called a “wraparound” or “wrap” for short. You sell at a higher price and higher interest rate and collect some money down and make money on the monthly spread. The logistics are complex, so I recommend you hire a local attorney to help you with the details.