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Updated over 4 years ago on . Most recent reply
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Owner Finance, Dodd Frank Questions
I've been researching a lot lately on Owner Finance Investing. In a nut shell... I plan to use private money to take down properties, turn around and sell the property at a higher price and rate to an end buyer who typically couldn't qualify for regular lending through a bank. Basically the Mitch Steven method.
In regards to the Dodd Frank act. From my understanding, it's there to protect the consumer for not getting into something they can't handle... Is that correct?
Obviously I will be doing the ethically but to make sure I'm protected, do I simply just need to make sure I'm going through a title company for everything? Or are there other things I need to be sure to look out for? I'm in Texas btw.
Any information would be highly appreciated.
Thanks
Most Popular Reply
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- Real Estate Broker / Investor
- Austin, TX
- 449
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agree with John K.
Use an RMLO to button up the transaction. I do a lot of these and you definitely need to put in some safeguards. Look for a title company that does these as well. Capital Tile- Ceshker Group does mine. I know they do transactions in Houston as well.
- Danny Webber