How to Buy Real Estate With Owner Financing (aka Seller Financing)

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Learn step-by-step (with an example) how to buy properties using owner financing (aka seller financing). You'll also learn how to find sellers willing to owner finance, and you'll receive tips about the pros and cons of using seller financing - for both the buyer and the seller.
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TIMESTAMPS:
0:00 - Intro
0:19 - Typical Financing
2:12 - Owner Financing
5:18 - Buyer pros & cons
10:03 - Seller pros & cons
16:21 - Who would owner finance?
19:11 - How to find sellers
22:02 - Key paperwork & terms
27:48 - Toolbox of creative financing
28:49 - Closing thoughts
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[@crystal4046]

I work in compliance in Texas and have for over 15 years and this is well done! I am also, in the near future, looking to buy some investment property and this is super helpful as I'm seriously considering owner financing to get the best deal available for my very first property. ❤

[@lailaatallah1857]

Incredibly info-rich, as always, Chad!

[@haleymclaughlin8784]

This is so helpful. Thank you!

[@BrooksHarper]

Solid information! It’s a relationship transaction.

[@leeroach3381]

Very helpful Thank you for sharing

[@berendsc]

Hi Coach, enjoyed listening to this video. Couple questions thought that I don't see most people talk about. If you get a seller financed deal. What other things should you have in the contract? Should you get owners/buyers title insurance? Should your have a property insurance clause in the agreement? How about if there is damage to the property after sale? Fire/tornado? Disclosure about wells or septic?

[@toyotamanny7178]

As a Canadian trying to get into the American market, Seller Financing is very helpful. Thank you. What closing costs can I expect and who covers what?

[@CoachChadCarson]

Closing costs are just the cost for title work, title insurance, and any closing fees. Depending on who pays transfer tax, that is another cost. But often seller pays that. For example, a recent closing for me was $1,400 total.

[@obidijerry]

Hey Coach, quite informative video. I have a question please. Can I refinance a property that I bought via owner financing and how would that play out. Assuming the property appreciates and I wanted to refinance, get some money to further pay the seller.

[@Xunrealvince]

Is smart. To do this then resell if property goes up? Without tying credit up?

[@briankillian5248]

I just entered into a seller financing opportunity and I had 200K left on my mortgage. Buyer agreed to buy for 1.2M with 600K down. I felt very secure in this transaction because of 50% down. What are your thoughts?

[@EdibleGrandpa]

Hey Coach, I’m in Greenville SC. You mentioned SC in your video. Where are you located? Would love to connect as I’m at the point of looking to close deals and want a good Title Company to assist with the closing process.

[@blaker4280]

Hey man, Im in Greenville, SC as well. I actually just bought my first investment property in Wade Hampton. Would love to connect with you.

[@Davion_savant]

Hello Coach Carson , How are seller / owner financing down payments usually or typically paid? can I set up a way to pay them via credit card or personal loan , what would be a secure way to go about this ?

[@CoachChadCarson]

You pay the down payment at closing. You could use a personal loan or credit card (through cash advance) but both would be very expensive. You would need to make sure you have a really good plan to pay them back quickly through cash flow or other source. When I first started I used private loans as a 2nd position mortgage behind seller financing first mortgage. So, similar concept. But worked hard to pay them off

[@Davion_savant]

Hello Carson , can I pay the seller in a seller financing transaction with credit cards ?

[@CoachChadCarson]

Seller financing means the seller is like your bank. You don't need to use credit cards. You make your monthly payment to them. I know people who have bought properties with credit cards. For something very cheap with a lot of cash flow it could work, but you want to be really careful and pay it off quickly. Interest rates and terms aren't good on credit cards

[@Davion_savant]

@@CoachChadCarson wow I really appreciate that, I presume that usually in seller financing/ creative financing there’s a requirement of a down payment, is your answer still applicable for being able to use credit card for a down payment?

[@CoachChadCarson]

@@Davion_savant no problem! Yes, in most cases the seller will want a down payment. And in that case you could borrow it. I borrowed 2nd position private loans early in my career for down payments. Again, it's a little risky but was worth it for us getting started. If you are low on cash, could be worth it too. Just have a plan to pay it off.

[@Davion_savant]

@@CoachChadCarson sounds good, I am exercising my options right now and am looking to try to acquire a property utilizing creative financing; do you by chance have any areas in your channel/community / business that can assist in advising and structuring?

[@kabughoshifah.uganda256]

Hello @couch Carson how do I pay the owner off after 5years

[@jesusguerrero1161]

I have a deal in Austin. 200K PP. ARV 270K

[@CoachChadCarson]

Congrats!

[@jesusguerrero1161]

@CoachChadCarson Put me in coach, put me in. Hehe. I'm looking for someone to buy this from me. Is anyone interested?

[@CoachChadCarson]

Here are a few other ways to find private money in real estate! ► kzbin.info/www/bejne/iKSliXpufpefgLM