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Updated almost 5 years ago,

User Stats

10
Posts
0
Votes
Ike Mouser
  • Rental Property Investor
  • Elizabethtown, KY
0
Votes |
10
Posts

Seller financing and wraps legal in kentucky?

Ike Mouser
  • Rental Property Investor
  • Elizabethtown, KY
Posted

I am at the point now where I have learned as much as I can by myself and I was about to pull the trigger on heavily investing in a mentor so that I can begin investing with the proper support however I came across this article:

https://www.rtitlegroup.com/bl...

My strategy was going to be to acquire SFH's with owner financing and sell them on a wrap, making money on the down payment, interest spread and monthly payment spread. If what I read in the above article is accurate it would seem that is impossible in my state of kentucky, would that apply even if I'm using an RMLO, attorneys, etc. I was specifically studying Grant Kemp and Mitch Stephen but now I think all of that may have been for nothing. I am attracted to this strategy because even though it likely cashflow less than rentals in the short term it would essentially allow me to close one property, get a decent cash flow/downpayment and forget about it putting all my effort into finding the next deal as the bank not the landlord.

and here is the law:

https://apps.legislature.ky.go...