Does anyone know if I can owner finance a property and sell it without ever obtaining a bank mortgage? I would like to take over payments for a short period do a very minor rehab and flip without doing bank financing.
Anything is possible. You want to flip it to another investor and let them assume the owner financing? If so I’d put that you allow assumption if the loan in the contract or some other lawyer speak.
What’s the terms of the owner financing that you are looking at?
@Corey Oss if you research ( Google) mortgage note buyers and contact them most are happy to tell you how to structure the owner financing deal to get you top dollar for it. Also many times you can do a back to back closing buy selling your mortgage note for a discount
I am looking to finance it from another person and then sell it as a flip without doing any bank financing. The terms haven't been established yet, I haven't even talked to the seller about this option yet.