Because the buyer becomes responsible for all taxes and insurance, do you require that you receive a copy of the paid taxes and are listed as an interested party on the insurance policy until paid off?
Hi, huge fan of your vids. My goal for this upcoming tax season is to buy a fixer upper through a tax deed auction and seller finance it "AS IS" for a small profit. What is the best way to team up with someone that knows what they are doing so I can avoid headaches and pitfalls? this will be my very first investment property I live in Las Vegas Nevada but nine times out of 10 the property that I purchased will be in one of the lower States Arkansas Alabama Texas Etc. I would like to try to purchase something local but unfortunately Nevada frowns upon tax liens and deeds
Hi, thanks for sharing this information, can I pull equity out of a seller finance deal after rehab? I don’t want to pay off the property due to low interest just pull what I invested in rehab and down payment
@@denynshernandez3073 Hey, I'm currently looking to purchase properties with seller financing and would love to speak with you about your properties. Please let me know the best way to contact you (I don't believe there's private messaging on youtube). Look forward to connecting!
If the seller requires a deposit they don't make interest on that money you are putting down as a deposit. It does count towards the entire amount they net on the property- they just don't make interest on that down money as you are only financing the total minus their deposit requirement
Hey! I am from the Lehigh Valley and a real estate photographer/drone photographer. If you ever need any work let me know! Question about seller financing; just met a motivated seller and he would be open to seller financing. He is selling his home, looking for around $230. He recently just refinanced it so now still owes around $200k on the property. I offered him $20k cash and to take over the loan to my name and he sounded interested in this but I am not too sure if this is even possible. I understand that transferring mortgages can be very complicated. Do I have any doable options here? Thanks for the video! Very informational
Hi, if a buyer realizes they are going to default on the contract for deed, and they apply for some type of bankruptcy, is there a potential for the judge to award title and full ownership to the home (perhaps under a homestead protection law) and for the seller to lose out on the remainder owed? This is in New Mexico.
For seller financing deals with a balloon payment after 15 or 20 years, do you still use a 30-year amortization schedule? And is it a traditional 30-year amortization schedule where the interest will be mostly front loaded at the beginning?
April, i didnt quite get the $60k at 5" on a 30 year amortization with 5 year baloon. 5 year baloon is the duration of paying 60k with 5% right? If so what is the 30 year there?
30 year stretch repayment on principle same as a traditional mortgage but you only pay that rate for 5 years. At the end of the 5 years they pay in full or refinance out of it through bank. Reason why they do it this way is because a seller has no motivation to get their money back in 30 years.
Flippers are killing seller financing. Every seller out there now thinks they can make more money with ridiculous interest, downs and ballon payments. I just turned down a property listed at 114gs where my 5 year total cost would end at 139g. This leaves owner carry deals limited to investors and not actual buyers. Way to go. Greed sells.
this is because I value my time. I am super responsive to my family, my students and my immediate business partners first and foremost. If I have any time left after that. I respond to others. If not.. it is what itt is and I don't care what others think. I love who I am. I love my businesses. I love protecting my peace, my downtime and my energy for those closest to me.
![What is Seller Financing and How Does it Work? [#AskBP 074]](http://i.ytimg.com/vi/tLgQIQ_wy1Y/mqdefault.jpg)
Thanks for watching. Feel free to leave comments or questions below and I'll do my best to respond :)
So good April. God bless you! ❤
Thank you, have a great day!
Thank you, April.
Thank you so much for this video. What type of contract would you make if you’re buying a property with seller financing and bank loan? Thanks!
What an awesome video. Thank you for sharing!
Thank you for this great informative video, I am offering to buy a 4plex through a seller finance deal.
That is awesome let me know how it goes!
how did it go? any complications?
Great video so glad I found your channel 😁
Super helpful. Thx.
This is awesome, thanks a bunch April!
This is what I was looking for. Thanks.
Where can I download the contract?
Thank you!
Hi April! Really great video.🙂🖐
Thank you April. Great video 🙏🏽
Very informative and easy to follow. Subscribed!
Can use p&s for texas and complete seller financing.
Because the buyer becomes responsible for all taxes and insurance, do you require that you receive a copy of the paid taxes and are listed as an interested party on the insurance policy until paid off?
Hi, huge fan of your vids. My goal for this upcoming tax season is to buy a fixer upper through a tax deed auction and seller finance it "AS IS" for a small profit. What is the best way to team up with someone that knows what they are doing so I can avoid headaches and pitfalls? this will be my very first investment property I live in Las Vegas Nevada but nine times out of 10 the property that I purchased will be in one of the lower States Arkansas Alabama Texas Etc. I would like to try to purchase something local but unfortunately Nevada frowns upon tax liens and deeds
Hi, thanks for sharing this information, can I pull equity out of a seller finance deal after rehab? I don’t want to pay off the property due to low interest just pull what I invested in rehab and down payment
Great video @April! I’m set to close on my 1st seller financing (as the seller) next week. And I love those curtains- that is certainly your style! 😬
Hi, I own a lot and I am trying to do seller finance but have no idea where to start. If you don’t mind can you give me some tips on this please?
@@denynshernandez3073 Hey, I'm currently looking to purchase properties with seller financing and would love to speak with you about your properties. Please let me know the best way to contact you (I don't believe there's private messaging on youtube). Look forward to connecting!
can you send me the format of contract for my knowledge . Appreciate it
Thanks April 💕💕💕
are you supposed to subtract the deposit from the amount the seller is to finance?
If the seller requires a deposit they don't make interest on that money you are putting down as a deposit. It does count towards the entire amount they net on the property- they just don't make interest on that down money as you are only financing the total minus their deposit requirement
@@aprilcrossley thank you!
@@SamuraiSmokes no problem :)
Hey! I am from the Lehigh Valley and a real estate photographer/drone photographer. If you ever need any work let me know! Question about seller financing; just met a motivated seller and he would be open to seller financing. He is selling his home, looking for around $230. He recently just refinanced it so now still owes around $200k on the property. I offered him $20k cash and to take over the loan to my name and he sounded interested in this but I am not too sure if this is even possible. I understand that transferring mortgages can be very complicated. Do I have any doable options here?
Thanks for the video! Very informational
Would this work for a lot?
Hi, if a buyer realizes they are going to default on the contract for deed, and they apply for some type of bankruptcy, is there a potential for the judge to award title and full ownership to the home (perhaps under a homestead protection law) and for the seller to lose out on the remainder owed? This is in New Mexico.
Does seller financing also work for a buyer who is a foreign national without green card, work visa, ssn or itin?
Excellent Video. I found a seller financing Deal. but the seller doesn't want to record the sale, what do you do in situation like this?
Run! What did you do?
Great video - can u analyze seller financing deal - that you rejected and why you did so ?
For seller financing deals with a balloon payment after 15 or 20 years, do you still use a 30-year amortization schedule? And is it a traditional 30-year amortization schedule where the interest will be mostly front loaded at the beginning?
yes : )
April, i didnt quite get the $60k at 5" on a 30 year amortization with 5 year baloon.
5 year baloon is the duration of paying 60k with 5% right? If so what is the 30 year there?
30 year stretch repayment on principle same as a traditional mortgage but you only pay that rate for 5 years. At the end of the 5 years they pay in full or refinance out of it through bank.
Reason why they do it this way is because a seller has no motivation to get their money back in 30 years.
The second contract never made it into the screen share. Great video anyway though. Thanks!
Flippers are killing seller financing. Every seller out there now thinks they can make more money with ridiculous interest, downs and ballon payments.
I just turned down a property listed at 114gs where my 5 year total cost would end at 139g. This leaves owner carry deals limited to investors and not actual buyers. Way to go. Greed sells.
Hi April, I'd like to do seller financing and I was wondering if this contract would work in Canada ? Great video !
What amortization calc is she referring to?
bretwhissel.net/cgi-bin/amortize
Hey, my curtains look like that...
If you are an out of state investor you find a lawyer in the state you are purchasing the property?
yes, most definitely!
great, shoot i wish you hadnt paused it, your screen share didnt convey remaining half of video
April - you are not responsive at all ,which makes all your effort useless...
this is because I value my time. I am super responsive to my family, my students and my immediate business partners first and foremost. If I have any time left after that. I respond to others. If not.. it is what itt is and I don't care what others think. I love who I am. I love my businesses. I love protecting my peace, my downtime and my energy for those closest to me.