Owner Finance

[Amanda Cadena]

What is everyones outlook on Owner Financing?

There is a possibilty that this may be the an option for my first deal...

I have an older lady trying to sale her home because she no longer wants to have responsibility.

She has a tenant already in place that she wants to make sure is taken care of... she always wants this tenant to have the first option to buy the home. 

I am going to offer her to buy the house through owner financing (6 year term) and then offer the tenant the rent to own option.

Any feedback?

[Manny Cirino]

@Amanda Cadena seller financing is a great way to invest. There are not to many other ways were you can control $100,000 property with only say $5k or $10k. I say offer the optio  landlords are the best candidate for SF because they are use to generating that monthly income. SF gives them the option to still generate an unearned income without any of the hassle attached to it (unless you default the loan).

I would not worry about the lease option to the tenant, it is easier to just maintain them as a tenant and gain the cash flow till you own it free and clear then cash out in say 10 years. You should have significant appreciation by then. 

Do you have any idea what it rents for now?