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Updated almost 7 years ago,
Owner carry success?
Watsup BP-
Looking to hear some success stories regarding seller financing. Have you ever done seller financing? Thinking this may be my best bet to starting out as I have money but no income to be able to get a loan. I have found a seller that has multiple properties and is looking to liquidate, owner will offer great loan terms. Using the BP calculator the property will cash flow, if permits are approved for the backyard cottage the deal would be a homerun.
Typically how long do the loans last when doing a Owner finance? 15-30yrs possible?
Anyone have advice on how to setup the financing to be more favorable to the buyer?
Again this is my first owner carry deal any insight, tips, or past experiences would help me out as I get started.
Thanks all!