Owner financing advice needed

[Jeff McNutt]

I am looking for financing advice of any kind. owner financing is the first thing that came to my mind. I am hoping you guys/gals can help. Here is a quick picture I found a home that I am interested in. It appears it was purchased by an investor. Demo was started but not complete. It also appears the owner used private money. The house has been listed for over 150 days. List price 32,000 Rehab 30k (an educated guess at this point) ARV 85k 3/1 1200 square feet Safe rent 850 I don't have many detail at this point. I would go at this as a flip but would really consider as a buy and hold also. I have only done flips but want to get into buy and hold. Any suggestions/advice on financing. I was thinking owner financing would be a good starting place. Thanks

[Bill Gulley]

Originally posted by @Simon Shih:

Owner financed properties can only be done on a property that is owned free and clear. If he used hard money to purchase the property, then there is a lien on it and it cannot be owner financed.

 Not really Simon, we have wraps, sub-to, installment agreements, TICs, buying interests in or through entities, so an existing lien doesn't keep you from obtaining an interest in title.

For seller financing arrangements, first find if the seller is motivated to go there, they may very well be in that situation. Good luck :)