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Forums » Rent to Own a.k.a. Lease Purchase, Lease Options » I would like to hear techniques used to get a troubled seller to owner finance.

I would like to hear techniques used to get a troubled seller to owner finance. Subscribe to I would like to hear techniques used to get a troubled seller to owner finance.

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Andre Key

Wholesaler · Austin, Texas


Forum_avatar_avatar-reohunter

Feb 19 '11, 01:39 PM

I am starting to realize that onwer finance is a very powerful technique. I recently had an associate that can not sell his home and he was relocated by the job. He is willing to just give the home back to the bank and say that he doesnt want the risk of owner finance, but he is willing to rent.. go figure. Anyway, it seems that he is not trusting in the techique and is just complacent with default instead going into business with a friend. My question is that I would like to find more people who maybe in this situation, I know signs are good but I wonder what has worked for other members on the forums.


Dan B.

Real Estate Investor · Kansas City, Missouri


Forum_avatar_avatar-dan_b

Feb 23 '11, 08:17 PM

Maybe you could lay all the options on the table for him:

1. Return house back to bank = voluntary foreclosure damaging credit. Possible deficit owed.

2. Rent property out = land lording from a distance. What if...? (You could create a nice long list for this)

3. Owner financing - you take care of everything for him and he gets a chunk of change when you exit the property.

Now on a personal note - his "not trusting in the technique" may actually not be about the technique and a reflection on you. Sorry, but I have friends and family that I would not do this with either. If you are concerned about him more than the deal, suggest he contact another investor or show him how to do it himself so he get's the best deal for himself. You could also follow that up with selling yourself and your expertise.


Andre Key

Wholesaler · Austin, Texas


Forum_avatar_avatar-reohunter

Feb 24 '11, 12:55 PM

Thanks for the Feedback!!


Loc R.

Note Investor · Pasadena, California


Forum_avatar_avatar-solidreturns

Donor Pro

Feb 24 '11, 01:37 PM

More than anything this is an opportunity for you to not only acquire a distressed property, but to educated yourself on your options.

The more tools you have in your toolbox, the more problems you can solve. And essentially that's what (creative) real estate investing is - solving problems.

There is buying subject-to, AITD, buying on a land contract, wrap, land trust, etc. you could use in this situation, depending on several factors.

Small_logoLoc R., Individual/Private Note Buyer
E-Mail: locatelli.rao@gmail.com
Website: http://www.lrprivatenotebuyer.com
I buy individual notes - all states, shapes & sizes.




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