Investor · Ramah, NM · Member since 2008 · 17 posts · 4 votes
I am willing to finance a person or couple who is industrious and for whatever reason cannot get a bank loan, especially the self employed. I will purchase the house and finance the sale through a real estate contract if you can prove your repayment ability and have some savings. The house must appraise for at least the purchase price. Ideal for person who has a house in mind. Not a rent to purchase, but an owner financing. Send me proposals with information about the house and yourself. Please include why you can't or do not want to get bank financing. Must be a SINGLE family house on owned land and must have a 25 percent deposit from savings or could be from other family members. I am not interested in multifamily home proposals or rent to purchase schemes or anything that involves tenants!
Any ideas of where to look for a person with these qualifications? Any web sites or publications? Maybe this is a needed service and could be a new business?
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
9y
@Trina S. there are tons of resources around "Crowd Sourced Funding" these days. We even have a forum on this in Bigger Pockets. The essential concept is that you give your money to a company, they screen the borrowers, they charge them 12%, you get 8%....or something like that. That might be a better method to finding a good place for your money.