Owner Financing in Dallas / Fort Worth

[Matthew Hite]

Hi BP,

I'm looking to pick up several rental properties in the DFW or Austin markets within the next year. I've done some conventional wholesaling in the past but have recently switched to buy-and-hold strategy. With the Texas markets as hot as they are currently, it is difficult to find good cash flowing deals on the MLS and purchasing with conventional 20% down is expensive. I enjoy the idea of using leverage to increase returns and am considering using my wholesaling experience to find owner financing (and possibly Subject To) deals. The primary goal for finding these types of deals is to pick up properties for only 5-10% down.

Are there any roadblocks to this strategy that I'm not foreseeing?  On paper this strategy to me seems logical but I know that is not always the case in real life.  Does anyone know of an attorney in the DFW area that they could recommend for owner financing contracts?  Also, if any wholesalers in the area have similar deals please message me as I'd like to be added to your buyers list.

Thanks!