About Owner Finance
*Owner Finance as an Exit Strategy*
Owner Financing, if you remember, is a pretty neat strategy. In forming our owner finance deal, we raised our price, and structured a possible note with 20% down and a variable interest rate depending on the applicant. If you remember, you can hold that note for 6 months and then sell it to a note-broker for a discount.
I'm glad I went on the 2nd bus trip because I had forgotten that you can have hard money attached to the property and still owner finance. If you remember, you do the deal, but don't file the paperwork with the County until you sell the note. Then, if they don't pay you for any reason, you merely evict them and YOU get to keep that down payment. What a deal!
Next time we'll keep you up-to-date on our escrow process and notify you on our next flip.
Owner Financing, if you remember, is a pretty neat strategy. In forming our owner finance deal, we raised our price, and structured a possible note with 20% down and a variable interest rate depending on the applicant. If you remember, you can hold that note for 6 months and then sell it to a note-broker for a discount.
I'm glad I went on the 2nd bus trip because I had forgotten that you can have hard money attached to the property and still owner finance. If you remember, you do the deal, but don't file the paperwork with the County until you sell the note. Then, if they don't pay you for any reason, you merely evict them and YOU get to keep that down payment. What a deal!
Next time we'll keep you up-to-date on our escrow process and notify you on our next flip.
Comments