[quote=briansd1][quote=investor]Think about being the bank. Buy a house outright. Sell it accepting 15-20% down, with an interest only loan at 5-6 % with pre-payment penalties to protect your profit. Lots of people will have poor credit from foreclosures but still have a job to pay for a home. They take care of the property since they own it and you are protected as long as property prices don’t go lower than your downpayment. At some point, I would be interested in investing in this manner myself in san diego if I had someone whom I trusted that is open to this. Rich- you listening?[/quote]
That’s how is used to be done… until the easy credit from the banks kicked in.
Not sure that we’ll go back to routine seller financing.[/quote]
What I think is something new to some people is the idea of buying a property with the intent of selling it using owner financing as an investment opportunity right off the bat. Most owner financing traditionally was by someone who couldn’t sell a home and resorts to owner financing in order to sell it. I do think that in this time period with so many people filing bankruptcy/ foreclosure that credit scores will be hit but if they have a job and want a home, this is an opportunity for a win-win. Thank you for the input.
