Creative Financing to seller financing
Hi BP, it’s been a while. I had a strategy in mind.
Is possible to have a seller refinance a loan to interest payments only and you the Cash flow to pay the seller their asking price. Once that is done than switch the name on title to my name (but after the note has been sold to an investor) but keep the loan under the sellers name. Doing all this just to make the deal work.
Most Popular Reply
I'm sure that it could work if you know what you are doing and find the right situation. My take is the longer it takes to explain how a deal works, the less likely it is to be successful.
I think creative deals like that are best for investors that have a pile of cash or line of credit to knock out the loan balance if things go sideways. Even then, you're still likely paying more than the property is worth to get those terms.