Updated over 8 years ago on . Most recent reply
Owner Financing... HELP!!!
Good Afternoon BP! I am an beginner investor in Atlanta Metro Area and came across a deal where i met a seller and I offered her a lease option deal, but she didn't want to do a lease option because her attorney suggested not to. Her attorney suggested doing seller financing and she is following her attorney's word! I'm still learning about this strategy and I've always heard of Sub-2's but I just don't know how to fully go about the deal & I've heard there are ways you can do seller financing with very little or no money down (GREAT FOR ME!!) If there's any investors who can briefly explain seller financing or know of any sources where i can learn more... I would be truly grateful! Thank You!
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#3 Guru, Book, & Course Reviews Contributor
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I just can't agree with casual advice concerning any CFD or Land Contract, they have serious issues, they are out dated strategies and you can have title issues as well as timing issues of deeds conveyed.
Read the posts on the topic, I've darn near written a book on it here.
Don't do any Sub-2 deal that you cannot refinance in 90 days! That means having equity, cash or forced equity established and be ready to payoff any lender.
All financing contracts lean to the lender, if you devise one that doesn't you're probably entering predatory dealing, lender over borrower and seller over buyer is basic law.
Read up, good luck :)