All Forum Posts by: Eliott Elias

Owner finance buyers are accustom to higher interest-rates, much higher than conventional loans. The nature of most of these buyers is that they can not qualify for regular loans.

In a good or bad market, owner finance buyers are looking for homes to buy. That being said, you are more likely to sell for a higher purchase price by selling owner finance.

I require credit reports from buyers that I sell my owner finance properties to. 

Everyone is different. Some require no credit checks, some do. 

Here is one issue I see. If you are getting a loan on this property in your LLC, most lenders will prohibit the owners from using the property for personal leisure.

Why narrow down your criteria this much? Be open to all opportunities and evaluate deals as they come your way.

To become successful in the short term rental space, you must have an extremely unique property with features that stand out above and beyond your competition.

In Austin Texas, I believe there are more active short term rentals than listings. Homeowners were brainwashed into purchasing property that will only cash flow with nightly stays. They are quickly realizing that their occupancy is decreasing month over month and are going to have to sell.

A good resource would be Hamza invests. He is deep into flex space and holds seminars on how he does it.

Realtors were dropping off like flies before this lawsuit. This is not going to incentivize anyone for taking on this career.

I do believe there needs to be a higher barrier to entry to become a realtor, and possibly even a hourly rate structure for specific tasks.

The only criteria you should have is a property significantly under market value. This will keep your search broad, and once properties start coming in within your criteria, you can pick and choose neighborhoods and house layouts.

This is an extremely risky market to start flipping in. Who knows where we will be in six months.

With that being said, if you can shave off 15% of the ARV, and still make money, you are in a safe spot.

The incentives I am good with, but the earnest money is ridiculous. I have never heard a builder require 10% for earnest money. Make sure that is correct, that it is not 1%.