Owner financing vs. bank financing

[Eric Kissinger]

Hello all. I am interested about the pro's and cons of owner financing, rather than 20% investment traditional bank financing. I understand that owner financing can be more flexible as long as the seller is willing to negotiate, and it seems that is can be a win/win for the buyer and seller depending on the terms. I am curious of what others think? What are some things to look out for? Has anyone else had recent success using this approach?  How can this method provide much more value from a deal vs. traditional financing from a lender. 

Any thoughts/ideas are much appreciated.

[Dennis M.]

@Eric Kissinger

One thing to note -Not all owner financing is the same risk because your dealing with individual people .people do stupid things they can get sued or go bankrupt or die ..There is a big difference in risk by buying from a retiring businessman who owns the property free and clear ( best case scenario) versus a young person who still has a mortgage on it that is in over their head . You don’t want a “ wrap” you want true owner financing from someone well off that has no liens or mortgages on the the title .