The REtipster Podcast | Real Estate Investing
Discover how to make great money investing in real estate in a way that helps people, doesn't require a lot of risks, and leaves plenty of room for you to live your life. The REtipster Podcast is the best source of insight and inspiration for new and experienced real estate investors! Seth Williams pulls back the curtain to reveal the inner workings of how he runs his land investing business and rental property portfolio. In each episode, Seth explains the most essential real estate investing strategies and business essentials you can use to stay ahead of the curve in your real estate profession. Discover how to skyrocket your income, replace your day job and earn your financial freedom WITHOUT risking your life savings. Seth dishes out real-world guidance about what works and what doesn’t in today’s business environment. Seth Williams is a land investor, rental property owner, online educator, and skilled communicator who has been a student of the real estate investing game for over a decade. Join him in the next episode and learn how to crush it in your real estate business!
The REtipster Podcast | Real Estate Investing
Seller's Advantage: Owner Financing Terms That Put the Seller In Control
When you sell a property with owner financing, one of the biggest advantages for you, as the seller, is that you can dictate and control a lot of the terms and conditions of the loan you set up.
This is a huge benefit, but only if you know how to wield this kind of power and what options you have on the table.
Let's step back and acknowledge something.
When you give your buyers the option to purchase your property with seller financing, you're doing them a huge favor. This allows them to sidestep a lot of the time-wasting (and sometimes deal-killing) red tape that banks force their borrowers to go through.
Sometimes, seller financing is a borrower's only option because their bank doesn't like the property or the borrower's risk profile.
Other times, buyers will take you up on seller financing even if they have other options simply because they don't want to deal with banks.
Don't get me wrong, working with a bank has advantages too.
Banks typically charge a lower interest rate and almost always allow for a longer amortization on their loans with no balloon payments. Banks have no problem letting their borrowers pay off loans over 15 to 30 years, but most sellers (including you) won't wait this long to get their money back.
If you decide to offer this convenience to your borrowers, you'll want to know how to stack the cards in your favor so that you're compensated for the inconvenience of waiting longer to get your money. It's not just about getting a large enough down payment and high enough interest rate (although that is a huge part); it's also about having control.
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