Owner Financing – Jeff Watson & Jenna Hoover – Real Estate Investor's Roundtable

Owner Financing – Jeff Watson & Jenna Hoover – Real Estate Investor’s Roundtable

This week on Real Estate Investor’s Roundtable, host Rob “The House Guy” sits down with investor Jenna Hoover and lawyer Jeff Watson to speak the legal guidelines round proprietor financing. Jenna seeking to get into Owner Financing in her market and Jeff one of many main actual property lawyer’s within the nation talk about in nice element, what’s proprietor financing and the way does it work.

At Realeflow, we speak rather a lot about discovering freedom. The cool a part of Jenna’s work is that she’s serving to different households discover freedom, too.

As she continues to flip in low-income areas, she’s contemplating proprietor financing as an possibility for consumers who may not have the ability to safe a standard mortgage.

Jeff explains that the 2 most typical eventualities are when…

1. The property proprietor owns the property outright, during which case the month-to-month cost obtained is earnings.
2. The property proprietor has a mortgage on the property, during which case the month-to-month cost obtained is break up – a portion goes to the financial institution, and the opposite portion serves as an earnings.

Now, if you are going to be the financial institution, you need to assume like a financial institution. Owner financing may be dangerous, so, qualifying the customer is vital. Here are some key questions that Jeff advises consider:

“You’re looking at them for really one thing: their ability to pay. It doesn’t matter who they are, what they look like, how old or young they are, and so on. It’s their ability to pay. That’s the most important thing.”

Discover the three most essential inquiries to ask when contemplating proprietor financing.

If your technique is flipping in a low-income space, or if you happen to’ve ever thought of providing proprietor financing, this can be a must-listen episode.

It’s no shock to Rob and Jenna that parts of this space are highly-regulated… But Jeff is sharing what you’ll want to know to maintain compliant.

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