Would this Owner/Private Financing strategy work in your area?

[Mark Murray]

Over the last few years we have developed a strategy to privately finance home owners who are unable to purchase a home due to low credit.

We run our loans through a licensed mortgage lender for underwriting and compliance purposes, advertise the home owner must have at least 12% cash for the down payment, and then acquire the property with our bank, and then turn around and sell the property back to the home owner at a 5% mark-up.

Our interest rates are around 10%, and our goal is to take this strategy across the nation using investor capital to front any shortage in down payment money.

What has your experience been with private financing? Would this model work in your area?