All Forum Posts by: Ronald Walker

Dev,

Thank you for responding.

I am simply stating some benefits to the sellers in this type of transaction. I have been getting a lot of questions in general (outside of BP community) on why sellers would want to do Seller Financing, especially if they currently have a lien on the property.

Obviously, I'm new to the BP community. I can understand wondering if this is a question or seeking input.

When questions around a certain topic come up frequently I assume more people are asking the question then I come in contact with. I'm just hoping to possibly help out fellow investors if they are trying to pinpoint some benefits.

I appreciate you seeking clarification.

As a Seller in our current marketplace they may be faced with limited options. Those options could be one of the following:

• Sellers can't sell their property because appraised value is too low and you may not have access to the funds needed to sell your property in a traditional sale.

• Sellers do not wish to accept a sales price substantially lower than the real value
• Need to sell property quickly with little equity
• Can no longer make payments and has little to no equity

Owner Financing offers a solution where one previously was not available. The benefits to the sellers can be life changing in some cases.

The Benefits to Sellers:

• Reduced marketing time
• Quicker closings
• Viable exit strategy regardless of personal or property circumstance
• Creates an option to generate short and long term cash flow
• Minimum closing costs
• Creates multiple exit strategies to pay off the Seller’s mortgage, if one exists

In today's current economic predicament, with home owners having little to no equity in their home Owner Financing is an excellent solution to the problem. It gives home owners the ability to breathe and not get dragged down by foreclosures or short sales.

There are also many benefits to buyers in the market place with the rising standards to qualify for a mortgage. I won't go into the benefits in this post.

Abel,

Glad you are venturing into the wholesale business.

The biggest thing is to establish credibility by being true to your word and to what you are marketing. I would recommend before ever pushing properties out to potential buyers MAKE SURE you know what your sending.

A lot of beginning wholesalers I've run into work their deals on an adjustable spreadsheet. They really want to make a so called "deal" happen to make money. Don't fall into the trap! The adjustable spreadsheet syndrome is why people come to hate wholesalers. Keep marketing and find a true deal. Then flip it out and make a ton of money on it.

Also Partner with an active flipper in your area. Take him out to lunch learn what he wants and learn how he calculates repairs cost. This will get you a real buyer and also helps you learn the business.

Kindest regards,

Ronald

Hi Everyone,

My name is Ronald Walker. I am new to Bigger Pockets (BP) at the suggestion of some colleagues. I look forward to being involved with the Investors in the DFW area. My goal is through connecting with BP members we can all sharpen one another and grow our real estate businesses side by side. I am also interested in and actively seeking to helping Investors/Wholesalers with Owner Finance or "Subject To" transactions.

My primary strategy is purchasing homes "Subject To". I am also involved in flips, burnouts, wholesale and other creative real estate strategies.

I have been actively involved in real estate for almost two years. Our company currently closes 4-15 properties a month through our office. The majority of those homes are purchased "Subject To" as my partners and I are building a cash flow portfolio.

Please don't hesitate to reach out to me. I'm looking forward to meeting and connecting with BP Members!

Kindest Regards,

Ronald Walker