Wholesaling & Owner financing

[Shawn Crawley]

I have a few deals where owners are willing to finance. How can a wholesaling approach these situations? I'm not in a situation where I can buy these properties myself

[Jeff Rappaport]

@Shawn Crawley, these are my favorite deals right now.  It is quite simple!  Think about your exit strategy.  Who will be my potential buyers for this property?  Will it be another investor to buy and hold?  Fix and flip?  Will it be an owner occupant?  Once you identify what the potential exit strategy is structure terms that will solve the seller's problems but would be attractive to your end buyer.  For example, maybe you offer a really good price (full market value) but the payments, interest and down payment are low and the term is longer.  Price is really the least important aspect of owner financing.  We can offer considerably more than what the property is even worth as long as we get our terms.  

Once you structure something you now make sure your contract is assignable.  Now go find yourself an investor or owner occupant that would like a property with owner financing.  The same way you would with a cash transaction.  Make sure you find a title company that can put together the owner financing paperwork for the buyer and seller.  All you need to do is get an assignment of contract to your buyer and add the fee you are getting to the purchase price and the down payment.  

Hope that helps!