Note buying: What is a land contract?

Learning about some new topics while studying for an upcoming investing class on buying notes.

Today's article helped me understand about a concept less discussed in my circle of real estate investors: Buying Land Contracts.
I'm looking to buy notes to create everyday income as well as create a snowball with my IRA investing (building up with little purchases that will pay out anywhere from 11% to 89% return on investment!!).

Photo I took of the land around us near a glacier on a trip to Alaska

Here is the opening blurb that really focused the terminology for me:

"The reason you first got into real estate investing was to own property. Buy and hold. Let the tenant pay the mortgage. A strategy that is a solid, conservative, time-tested approach. As time has passed, maybe your objectives have changed. Maybe holding real estate assets no longer fits your goals or lifestyle. Your properties are leased. Selling with a tenant seems challenging. Why not consider selling TO your tenant? Not a lease-option. Sell that investment property your tenant calls “home” to the tenant.

A different investment option is selling with a land contract to your great tenants. Land contract is a frequently used option that allows an owner to sell their property while earning a nice return by creating a paper investment."

Credit: www.wilmothgroup.com/land-contracts

Excited to get started! If you are looking to start with as little as $5K (cash or IRA money), let's talk! If you are looking to sell your note, let's talk!