Contractor · Baton Rouge, LA · Member since 2018 · 10 posts · 7 votes
We have several properties, in the Baton Rouge area, we have been approached about owner financing. If I am to rent/lease to own, would I be able to refinance and cash out, thus accessing the equity in the house?
Investor · Baton Rouge, LA · Member since 2014 · 280 posts · 219 votes
7y
@Greg Griffin you should have no problem doing a cash out refi with a local bank. Call me if you need some contacts. I would recommend putting the long term financing in place prior to the owner finance transaction.
I would research and give some consideration to "bond for deed" over owner finance in Louisiana if that is the path you take. Either way, be sure to get Lane Bennett at Title 2 Land to help you with all the paperwork. He is the best in town when it comes to creative real estate and finance transactions. He can also set you up with a 3rd party company that will service the note on behalf of you and the tenant buyer. I would want that.