Really great video! If the cash out refinance balance is $17,526 ($236,250 - $218,724) and I owe $60k to the private lender ($30k downpayment and $30k for repairs), how do I make up the rest of the difference owed to them?
Why does everybody always talk about it from the buyers perspective? I’m a seller. I wanna know the benefits of me selling and doing the owner finance myself.
You will make more money bc you are charging interest. You are becoming the mortgage company and therefore need to do everything a mortgage company would do before taking on a buyer (credit check, personal financial statement, etc). If you don't need a lump sum of money its a great way to make MORE money on the property by collecting interest. Still getting cash flow without having to deal with tenants and repairs. The deed transfers to the new owner so you become the bank. Do the same due diligence a bank would do : )
You did a great job explaining this. Thank you
Thank you so much!!
Really great video!
If the cash out refinance balance is $17,526 ($236,250 - $218,724) and I owe $60k to the private lender ($30k downpayment and $30k for repairs), how do I make up the rest of the difference owed to them?
Why does everybody always talk about it from the buyers perspective? I’m a seller. I wanna know the benefits of me selling and doing the owner finance myself.
You will make more money bc you are charging interest. You are becoming the mortgage company and therefore need to do everything a mortgage company would do before taking on a buyer (credit check, personal financial statement, etc). If you don't need a lump sum of money its a great way to make MORE money on the property by collecting interest. Still getting cash flow without having to deal with tenants and repairs. The deed transfers to the new owner so you become the bank. Do the same due diligence a bank would do : )