Always Ask For Owner Financing - Street Smart Cash Flow Accelerator #15
When there is equity, always ask for owner financing. Of course this is when you're buying a property, go through your, what we call cost to sell worksheet. I'll be explaining this in another part. What we do is actually sit down with a seller. We make a presentation to them and we end it with something called the costs to sell worksheet. We get down to a final number and at that final number when we're actually making an offer to the seller, simply say that when you get to that final number, you've already taken to an account if there is any existing financing on the property, so that final number is their equity in the property. At that point in time, you want to ask the seller, how would it work for you? Or excuse me, would it work for you if you were to receive this in the form of dependable monthly payments?
To watch the next part of the video go to: When getting owner financing ask for ‘first right of refusal’ if mortgage is sold. https://youtu.be/AjH9EwFEO3E
Investors have long regarded Lou’s training, systems and forms as the best in the industry. He has been quoted as an expert by many publications including The Wall Street Journal and Smart Money Magazine.
Lou draws from his wide and varied background as a real estate investor. Having bought property since 1977, he has invested in single-family homes, apartments, hotels and developed subdivisions, as well as building and renovating homes and apartments. These experiences have given him a proving ground for the most cutting-edge concepts in the real estate investment industry today.
