Charlotte, NC · Member since 2014 · 101 posts · 40 votes
To me, the single most annoying part of real estate investing to me is dealing with mortgage loan originators and banks. This is due to the shear number of rules, black box underwriting via desktop underwriter and loan prospector, the type of person the nature of the MLO/Underwriter professions tends to attract and retain, among other things, that make it near impossible for a debtor friendly experience.
I'd like to cut out the bank. My clients feel the same way. I work with a few well healed investors and invest in real estate myself. Everyone I work with has good credit, significant net assets, strong income from multiple sources and is an experienced operator. I work with mostly high net worth individuals and accredited investors.
Is there anyone on here that has a connection to a pipeline of real estate for sale with the possibility of seller financing in the Charlotte metro area or another area?
Rental Property Investor · Plant City, FL · Member since 2015 · 1k+ posts · 379 votes
9y
@Gregory Walter in my experience most "wholesalers" do not wholesale owner finance deals because they don't understand how to negotiate them or structure them. I also feel that's a sticky situation because in my opinion the seller should have good relationship with the person going to make the payments and it being a wholesale deal that wouldn't happen in a traditional manor. I believe doing your own marketing is the best way to get these type of deals. I am purchasing one now because the seller would lose government assistance if she received cash. This will be a true win win.
Lender · Anaheim, CA · Member since 2017 · 64 posts · 32 votes
9y
Look for lenders that offer "no doc" loans. They are SO hassle free. 20-25% down one tri-merge credit report. 2 appraisals. 2 Bank statements sourcing the money for the down payment. Bam done and funded in 14 days or less.