Owner financing help

[Chris Chesser]

Can anyone that has done a deal with owner financing for a single family home share any details of how the deal was structured? I'm hoping to set up a deal for the home I currently rent, the owner has no desire to hold on to it, owns it free and clear, and it had been vacant for 2 years before I moved in, so he isn't interested in renting it out (I was able to rent it since I'm dating his daughter and he wanted to help us out) any info would be much appreciated. Thanks.

[Account Closed]

@Chris Chesser Here's the easy way to do a seller financed deal like this.  If the owner is well off like you say, then do this.  Put down anywhere from 0% to 3.5% as your down payment on the house.  Low interest rate in the ballpark of 3% to 5% to match current market rates and a 30 year fixed term.  Make sure to use a good loan servicer like FCI Servicing out of California.  They are one of the best and will handle all the tax paperwork for both you and the seller, plus make sure payments get where they need to be.  After you do the deal, the seller / prior owner needs to sell the mortgage on FCI Exchange or a similar platform.  That way he doesn't have to wait 30 years to get his money back.  He can sell the note / mortgage to another investor who wants the return over the next 30 years.  There are tons of younger investors out there who would want to buy a mortgage like this for their SDIRA or general investments.  This way you get a good rate, you have a good servicer in place, and your girlfriends dad can possibly get his money out of the house / mortgage if he sells the note to the right buyer.