Real Estate Rookie

Rookie Reply: Tips on Owner Financing Then Refinancing Out

av Real Estate Rookie | Publicerades 2/27/2021

This week’s question comes from Cory on the Real Estate Rookie Facebook Group. Cory is asking: Owner financing would buy me some time to get the property rented and cash flowing as well as build some equity before taking it to my bank for conventional financing. Any tips, suggestions, stories on doing this?  Many real estate professionals have an opinion on owner financing (also called seller financing). Some love it, some hate it, and some just haven’t had any experience with it. Ashley has had some great experience not only owner financing a package of properties for sale, but also being the owner who has financed her property when selling it.  Here are some of Ashley’s suggestions:Show the seller that you’re financially stable with some key documents Work with the seller to find terms, interest rates, and payment options that work for you bothAsk the seller what they need to make this deal work for themDraw up a letter of intent and attach an amortization schedule Get it structured and drawn up legally with your lawyer  If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).

Om Podcasten

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.