| Have you ever purchased land, tried for a quick flip, | | | | "free contract for deed forms". You might have to dig |
| and failed? | | | | 5-20 pages back to find one. |
| Perhaps you've tried to sell vacant land for months | | | | 6) Go to: Search around for your state and city. Then, |
| without receiving one phone call or e-mail. | | | | click on "real estate". Post an ad for your land lot, |
| That's okay, because there's a way you can turn | | | | something like this: |
| vacant land into monthly income. And it's not that | | | | Own land in ____________ for only _______ a |
| difficult to do. | | | | month. No credit checks necessary. Pay off early at |
| (Before we go any further, I'm going to tell you a little | | | | any time with no pre-payment penalties. Only _____ |
| about myself, so you can feel reassured that I'm not | | | | lot(s) left. So hurry! |
| some sort of Real Estate whiz. I'm 38. I've been buying | | | | 7) Add pictures to the ad. Post the ad wherever you |
| and selling land for about two years. I don't have a RE | | | | think people might be interested in your land. |
| license. And I'm a college drop out.) | | | | 8) To sum it up, you're selling your land with financing at |
| If you want to turn land into monthly income, this is | | | | a percentage rate that will provide you income every |
| what you do. I have used this technique to earn a | | | | month. You can do this with a contract for deed, so |
| monthly income on some properties that I own. You | | | | that the buyer doesn't receive the deed unless he |
| can, too. | | | | pays off the property. |
| This is what you do: | | | | 9) Within the terms, I allow the buyer to pay off early |
| 1) Call a local realtor and find out the value of your land | | | | without any pre-payment penalties, and I allow them to |
| lot. If you feel weird asking a realtor for the value of | | | | visit, build, camp, garden on the land while they are |
| the land lot as you're not intending to use him to sell | | | | paying for it. I've done this twice so far via Ebay and |
| your land, you can flip through a local real estate | | | | both buyers quit paying on the land. Written into the |
| magazine or visit the MLS (Multiple Listing Service) to | | | | contract was a statement that if buyer fails to pay |
| get an idea of what your land is worth. | | | | after thirty days, I can demand the entire payment due. |
| 2) Figure out, through talking with realtors, brokers, and | | | | In both cases, I took back the contract and one is |
| looking through real estate magazines, what the land is | | | | under contract again, and another is due to go under |
| worth. Write this number down. | | | | contract soon. |
| 3) Visit: Then, click on "mortgage calculator" button. At | | | | Ironically, both buyers, the original buyers, had different |
| the new page, click on "mortgage payment calculator". | | | | downpayments. One of them paid $102.50. The other |
| At that page, fill in the blanks. Basically, you're creating | | | | had a downpayment somewhere in the area of $1,000 |
| an amortization (mortgage) schedule for your property. | | | | dollars. At the end of the day, I kept both |
| This way, you'll receive a monthly income from selling it, | | | | downpayments and their monthly payments. |
| and benefit someone who wants to own land but can | | | | It's not that I'm happy that they didn't make the |
| afford to pay for it in one lump sum. | | | | payment. To be honest, I wish they had. The outcome |
| 4) Visit your land lot. Take pictures of the land, using a | | | | though is that the land goes back to the ownership of |
| digital camera. If you don't have one, borrow one from | | | | the seller so he can resell, with financing, to another |
| a friend. Offer to help them around the house or some | | | | buyer. |
| other kind of barter that they value in exchange for | | | | Selling land with financing allows the buyers to buy land |
| them letting you borrow their camera and sending you | | | | with little or no money down and monthly payments |
| the pictures via e-mail. | | | | that they can afford, and it allows the seller to make a |
| 5) Visit: | | | | monthly income. It's a win-win. |
| LandContractForSelling.html | | | | If you have any questions about doing this, feel free to |
| Or, visit: and search for contracts. | | | | e-mail me by writing me at |
| Print up this contract. Make a few copies, or make a | | | | Thanks for reading and I hope this article helps you. |
| few prints. If you want another contract, search for | | | | |