Updated almost 8 years ago on . Most recent reply
Owner Financing as Exit Strategy
Greetings,
This case may possibly be one of those classics, but doesn't seem to come as common, so I'm asking for posterity:
- I have an ongoing flip in terminal stages backed by an 80% rehab interest-only loan due in 3 months. The lender is able to execute to a long-term buy&hold refinance. I initially wanted to buy&hold, but now I just want to sell in order to jump to another potential deal.
- I have an interested buyer/investor interested in the property, but looking for an owner-financing deal and 20% down. His exit strategy is longer-term buy&hold.
The goal is to structure a deal where we perform owner financing on a property that has a backing mortgage.
I haven't talked to the lender about it, but was curious about whether, in this case, that was even possible.
I believe our vibrant community here can provide useful perspectives, and thanks in advance