How to find and structure owner financing with clear properties

Question

Hi All and thank you. I am having one heck of a time trying to find owner financing in my area of  Southern California. I'm self employed and looking to invest in real estate without uses banks. Any advice on how to find and or offer owner financing with free and clear properties.

Brian Gibbons · Answer

@John Marino

You can be a real estate operator instead of investor without using banks

Low equity deals, buy subject to or wrap aitd , exit strategy lease or lease to own

Low equity deals,lease to own and then assign for a fee

Minor rehabs, do a joint venture with the seller instead of a wholesale, use private money for the minor rehab, create a note for the seller table for months after the rehab

Free and clear houses, learn about installment sales at IRS.gov, offer 105% of FMV but get  the payment of installment sale low, search imputed interest table on the IRS site, show the seller that installment sale private mortgage is a way for them to further their retirement plan, and the payment can survive their death, payment can go to their heirs or to a charity

There are more things you can do without banks :)

@Josh Caldwell

Griffin F. · Answer

@John Marino You can create lists with 100% equity criteria. List source is a popular list data site.

Personally, I think there are many benefits to seller financing - from the seller end. Although, scenario is obviously subjective, so in any negotiation - its about figuring out what the seller wants. Tired landlords who want to unload the hassles of land lording, but may like the convenience of keeping their equity right where it is (in the property) to make a solid return for X years. If a motivated seller doesn't need the money upfront - seller financing can be an attractive option. Pitch it!