Owner Financing
I am reading Scott Risters wholesaling course right now, and he mentioned to offer owner financing to some buyers. My question here is, how would I owner finance a property I haven under contract? Or can I? Would I have to purchase the property myself in order to do this? What are the advantages of owner financing a property to a buyer? JB (still learning)
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you have to be in control of the property to owner-finance. yes, you must close on it.
some benefits are that: since your buyer must not be able or not want to try to qualify for a bank loan, you can charge a higher interest rate, higher monthly note and you will have a way bigger pool of potential buyers.
Thanks Jackman. Real Estate NOW after reading a few book, joining this site, reading up on a course is not scary at all...infact what scares me is once I really get started if I'll be able to stop!!
JB
[addsig]
there you go! then get started. in my trip down the coast in april, i'll stop in jax and we can find and do a quick deal together!
Sounds Great!
JB
Another benefit to being able to offer owner financing is that you can cash out the entire note or part of it when you need cash to invest in a better deal. Send me a private message and I can expand on that.
Moises