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140: Rookie Reply: Seller Financing 101

140: Rookie Reply: Seller Financing 101

FromReal Estate Rookie


140: Rookie Reply: Seller Financing 101

FromReal Estate Rookie

ratings:
Length:
15 minutes
Released:
Dec 18, 2021
Format:
Podcast episode

Description

Once again, Ashley’s DMs are open for questions! This week, Brendan direct messaged Ashley asking: I’m looking at a 10-unit property at $1.9M. The current owner only has 4/10 units rented, but banks require 75% occupancy to finance. The seller would be interested in owner financing. Where do I start?It’s good to note that no two seller financing deals are the same. Different sellers want different things out of a sale and it’s up to you, as the buyer, to find the things they really need to get the deal done. If you’re able to do that, you could get a great property under contract with little-to-no money down!Here are some suggestions for owner financing:Use PropStream or county records to see whether or not the seller has a mortgage/lien on the propertyCalculate how much you’d be comfortable putting down and relay that in your offerRun the numbers with current/Pro forma occupancy to see what the property could cash flowKnow that (almost) everything is negotiable, don’t be scared to ask for flexible optionsAnd more in the episode…If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).Links from the ShowReal Estate Rookie Rookie Facebook GroupReal Estate Rookie Youtube ChannelBPCON2021PropstreamCheck the full show notes here: https://www.biggerpockets.com/rookie140See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Dec 18, 2021
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.