Seller finance to flip a house

[Mathew Morford]

Hello everyone,

My question is: if I was to find a property I wanted to purchase, but wanted to do seller financing so I can use a loan to finance the rehab, is it possible for me to sell the house after the rehab when I still owe on it? 

For example: I agreed to buy a house for $50,000 with an ARV of $150,000, and did this with seller financing. Then I put $20,000 - $30,000 into it and then sell it for the $150,000. Can't I just pay off what I owe to the owner, and pocket the rest?

Im sure someone has asked this question, but I couldn't find anything similar. 

Thank you to whoever reads this post. 

Mat 

[Account Closed]

Quote from @Mathew Morford:

Hello everyone,

My question is: if I was to find a property I wanted to purchase, but wanted to do seller financing so I can use a loan to finance the rehab, is it possible for me to sell the house after the rehab when I still owe on it? 

For example: I agreed to buy a house for $50,000 with an ARV of $150,000, and did this with seller financing. Then I put $20,000 - $30,000 into it and then sell it for the $150,000. Can't I just pay off what I owe to the owner, and pocket the rest?

Im sure someone has asked this question, but I couldn't find anything similar. 

Thank you to whoever reads this post. 

Mat 

Yep. That's the whole idea. The seller is just the bank, when they do seller financing, they are the bank, you are the owner.

One thing though, make sure you have title insurance and close through escrow when you buy the house. Many a deal has gone south by not being careful.