Actual Owner Financing Deal

[Scott Kimberly]

I hear about owner financing every now and again, and it always sounds too good to be true. I know it's a real thing, but how does it work?

I get that "every deal is different", so let's say the owner is going to fund the down payment and the bank will have a loan for the rest. Are you supposed to have enough cash flow to cover debt service to the bank and to the owner?

I'm also wondering how realistic it is to try to get owner financing deals as your first deal. I know something like 40% of all homes do not carry any mortgage, so I have to think that it's possible.