Is seller financing a safe option
We are looking to build a portfolio but don't quite have the resources to pay cash and/or finance another property this close to our last deal. Is seller financing a good idea to pick up a foreclosure in a location we don't currently live and can't visit because of COVID?
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Joe Villeneuve
#5 All Forums Contributor
Pro Member
#5 All Forums Contributor
- Plymouth, MI
Since the sellers of foreclosures are banks, HUD, Fannie,...which of those "sellers" are thinking of getting financing from, that already stated you can't get financing from? HUD doesn't finance, and the other two are where you would get the traditional financing from now...that you stated you can't get.
Seller financing is best done when the seller has 100% equity in the property.