First Time Investor: Owner Financing

[Matt Duckworth]

Hello, first time investor here based in Atlanta! I’ve been able to locate a property off market and have been having conversations with the owner for a few weeks. He has agreed to sell me the home, but seems pretty adamant that he wants to do an owner financing deal to help mitigate the taxes on his end which I understand. I’ve run the numbers on the property with the bigger pockets calculator and it seems like a good deal.

I was able to get him to agree to beat the interest rate offered by a more traditional lender, but I’m still skeptical to go down this road, especially with it being my first property.

I’m hoping to hear some of your experiences with owner financing, positive and/or negative. Any feedback would be greatly appreciated. Thanks!