RE: Owner Financing 43 Acre Sale to Co-Housing Group
From: Tony Adrian (nursingdatamsn.com)
Date: Tue, 10 Jan 2006 05:48:48 -0800 (PST)
Pardon the omission - land is located in Opelousas, Louisiana

Tony


My wife and I purchased 43 acres of rural land for a small, core group of individuals who are in the planning phase of creating co-housing. The group created a legal entity (LLC I believe). The plan is we will sell the land to the LLC as an owner financed deal with the LLC to pay us over 10 years with interest. Our intention is not really driven by the profit margin but to help these folks get started before the land prices in our area make it impossible. We will own the land outright within the next 60 days.

Any ideas of how to structure the transaction and any realistic pitfalls that both parties should consider would be greatly appreciated.

Tony



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