From my perspective I buy owner finance on a WRAP.I look for desperate landlords wanting to sell.I go 30 year am with a 5% to 5.5% rate and refi out in 5 year balloon.I put nothing down except closing costs.Yes many sellers will not agree to this but I am only looking for a few and YES you can find them.If someone wants a high interest rate at 8% etc. then I tell them I will have to lower the offer price substantially to offset the higher debt service so that I can cash flow.A sellers can't get paid NOW with as higher spread and the buyer gets no cash flow AND get a high price down the road.I call that an unmotivated seller.Most owner finance are happening with WRAPS these days around the senior mortgage.The key is If I put little to no money down and the senior loan is called and I can't refi out I really haven't lost anything because I had cash flow and just lose the property.If I have built up forced equity I will be able to retire the senior note anyway.Now if I did owner finance with a WRAP as a buyer and put 20% down then I have a ton to lose if the note is called.This is why not all owner finance deals are good.I know some buyers that agree to any owner finance just to own a property and they are going negative every month now since extra repairs and lower rents hit them.So yes Mr.Seller I can give you more on purchase than a cash buyer and you are owner financing me but it still has to make sense.

I agree with your continual learning perspective.

I'm not suggesting it from a legal perspective, just a practical one.

They are investors, who analyze deals from an investors perspective.

Tom, Quite the contrary, I am looking to sell these homes, one at a time, to retirees, and actually where more interest seems to be coming from is from the immigrant community who feel they can afford a house even making Wal-Mart wages.What needs to be understood is the perspective of people in, say, the DC area, who are looking at homes starting in the several hundred thousand dollar range.

Sometimes a coach can see things from a different perspective.

Are you speaking from a rehabbers perspective?

I am just very curious as to what the general public thinks about this so called "political" perspective, is this not exactly that?

The amount is not so important from a legal perspective, it just might mean more to an agent or seller.

So I don't think it's that great from an affordable housing perspective either..With the amount of REOs at low prices there is a lot of affordable housing in certain areas.