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Posted about 9 years ago

First owner finance deal finally generating cash flow

It is one thing to know that it is possible use owner financing to sell a property, but it is quite another to go through the process and see money flowing in. 

As with any other kind of real estate transaction, every deal is different, and has its own quirks. With this being my first deal with owner financing, one of the new wrinkles was overseeing the process of vetting and qualifying the buyer, and developing a relationship with the note servicing company.

The latter was key for me, because my goal was not to make this a one time thing, but to eventually manage multiple notes in a similar way.

By far the biggest insight I got out of the whole process is a much better understanding of how a banker or investor looks at real estate. I understand the pitfalls as well as the opportunities, and it gives me just a tiny bit of sympathy for bankers everywhere.

I still think the financial bigwigs need a much better set of controls, but I also think that smaller players like myself should still have the freedom to be creative.


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