THIS is the most important airbnb strategy going forward (IF you want to survive)
Вставка
- Опубліковано 21 січ 2024
- Get $600 off your tickets to Host Con - The #1 STR conference in the world 👇🏽👇🏽
bit.ly/ythostcon
STEP 1: Watch my case study on creative hosting 👇🏽
www.robuilt.co/creative-host
STEP 2: Download my free guides 📚
Airbnb Analysis Calculator 📈 - bit.ly/48PQgQL
My $10,000/month blueprint 💸 - bit.ly/47yiLR9
The Ultimate Airbnb Shopping List 🛒 - bit.ly/468Qcto
Top 5 Airbnb Business Models 🏘 - bit.ly/3teK2tl
My Airbnb Listing Tips ✍️ - bit.ly/48A06G5
STEP 3: Sign up to host on Airbnb and get my listing feedback
www.airbnb.com/r/robuilt
STEP 4: Join my free Airbnbesties Facebook group 👯♀️
tinyurl.com/airbnbesties
*All content on the Robuilt UA-cam channel reflects my own opinions and should NOT be taken as legal advice, financial advice or investment advice. Please seek out the guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links.
Can someone talk about the downsides of seller financing? For example walk through a scenario when the new owner doesn’t make payments? Does this damage the credit of the original home owner? Where is the increase in the equity held? It’s great when everything’s peachy, but would be great and helpful to hear about a disaster.
If the buyer doesn't keep up with payments the seller will take the property back. If the buyer makes all the payments it's all his value. it's in his name. I've done four owner finance so far
At closing I have my sellers and buyers sign a quit claim deed, this avoids foreclosure if the buyer defaults more than 30 days and the seller gets to keep all of the payments they made and their down payment.
The road block I've encountered is you can park your cash in a CD for ~5%. So as a seller, why would I give you a 0-4% seller financing rate when I can take all the cash from a traditional sale and park it in a CD? Why run the risk of you destroying my property or not paying me when I can just cash out and move on? There are so many buyers desperate to own that creative doesn't work. Maybe in some parts of the country but definitely not here in Wisconsin. And definitely not class A. Talking about why this strategy is good and all, but let's see a more challenging video about how to overcome all of these obstacles.
Always Valuable Content 💰
glad you enjoyed our chat!
Yep! Self employed…. latest 2 bedroom renovation in Seattle WA area is seller financed and working awesome. The seller was happy to negotiate without a bank. Because if this, after my major renovation it will still cash flow. Plus I can build a huge adu in the back end of the lot.
Finding owner financing in Seattle is insane! Congrats!!
Hey thanks ! It was literally the house next door to my existing rental. 🎉
Heck ya!
@@ventureted I have one outside of Seattle, cabin in index: docs.google.com/document/d/122dG-KIHn1_kE8avJEQOpkznGuWm_0q0RYuhCzuQHdk/edit?usp=sharing
@@chadhaugen-leathertech4848 Oh wow, a gift from the heavens lol. Thats awesome.
I can't wait to get started with creative financing... Its a great opportunity to scale up my real estate portfolio. Having all conventional loans pulls A LOT of my liquid assets.
We just purchased land in Anza CA using seller financing. Easiest deal ever. My husband and I are self employed and getting a traditional loan is not for us.
Tell me about it! My husband just applied for a HELOC on our home, which has tons of equity and the amount of paperwork they are requiring is more exhaustive than any mortgage we have applied for. Absolute chaos.
Hey guys, newbie here. Question about Rob’s deal at timestamp 11:27. Is that an assumable loan Rob is taking over? I know it’s hard to come by an assumable loan (AL). If he isn’t taking over an AL, how does he keep the interest rate and monthly payments the seller has locked in while legally having his name as owner of the property?
Thanks in advance for answering my question!
ROB!... so what happened to "HERE" investments? they went bankrupt? did I lose all my money? I used them on your advice way back when.
Fabulous information! What is the Facebook page for creative financing?
There are many, just search creative financing
Equity on an arbitrage deal? I usually understand very well.... but i'm confused a little. Love your stuff! I'm one str in and hoping to scale this year.
Its equity on the sale of a home. Not arbitrage.
I have 2 creative financing deals in broken bow ok
Send them to me on Instagram!
I missed her website and Instagram. Can you please send that to me. Thank you again.
Hey Rob! I want to own a ski cabin near a popular ski resort out west. Would love to pick your brain :)
Aspen
How does the seller recapture any of the equity that they have made? Can you please address this?
The terms may include a down payment for all of or a portion of the equity, the equity can also be financed by the seller. It’s about creating win-win opportunities for both sides of the deal.
Agreed with the response below, there is usually seller finance loan with a balloon on remaining equity after the down payment. Sometimes they get payments on the equity before the balloon date as well.
@@ZeonaMTRdoes the new owner pay the mortgage company directly or do they pay the mortgage company? Is this a risk for the credit of the person who owns the home?
We are trying to get into a house, we have the money, but don’t have the credit. Any ideas?
Fix your credit. There's several good videos on this on Pace Morby's channel.
Credit check was not an issue in my CF deal. The relationship was. Be real, be prepared and get your legal paperwork done by an attorney. If you got that the credit won’t be as much of a problem.
Seller financing and subject to don't require credit. Which market are you looking in
@@chadhaugen-leathertech4848 Agreed! In all the deals I've done, sellers have never asked to see buyers credit.
I will no longer be using a Dank
This property is in Albuquerque!? 😱😏😏 hit me up
Re Subject To - I do not understand how a lender/mortgage company would allow anyone (who has not been approved by that lender) to legally assume anything?! Seems to me that this would trigger a Due on Sale Clause Notice. Further, if the lender is being kept in the dark, this cannot be legal. It's certainly not ethical. How is it that the title company is not required to notify the mortgage company of a change in ownership?!
I thought so too, but a lot of lenders and banks currently are SO DOWN in volume of new loans that they prefer to keep a loan on their books that receives payments, rather than having to call due on sale and marking the loan as a bad loan or another early termination of a loan for them.
If all current loans are paid off at once their whole model breaks. Especially with the market now, I don’t see as big of an issue with this aspect of creative finance. I was afraid of this a lot more than I should have been. I will admit that you should plan for this possibility with all of your deals.
It is legal and the mortgage company can see the change but they usually don't do anything as long as the debt is being paid. The buyer does not assume the loan, so the seller who qualified for the loan, is still on the hook if the buyer doesn't pay.
scammer
Which one, us or the mortgage companies?