Owner Financing Rental Properties to Tenants

I have four properties that I am currently owner financing to past tenants and two more that have been paid off in the last year. With the exception of one, they have all gone really well and been positive experiences.
The bad apple was 100% my fault. You can watch that story here:
• How to Lose Money in R...

[@BusinessVision]

That’s the content people need to pay attention to! Well done, Mandy!

[@Emmanuel-so9eo]

Im going on a binch on this channel. Hidden gem.

[@jupitereye4322]

For me, it is all about quality tenants. But even though this sounds simple "just find quality tenants", it actually requires considering more expensive areas and higher valued real estate. To be honest, for long-term goals, I'd like to hold some land. Also, smaller units, but closer to downtown, or more desirable areas. I'd say that makes the most sense to me. But I have to say, by purchasing houses as you do, you end up owning a lot of land. I know some people who strategically invested in one neighborhood, did some good maintenance and curb appeal, and they've raised the value of their properties, and also attracted more quality tenants. Now that is impressive to see. Not always possible and not everywhere, but still a good strategy in principle.

[@EdwardInTX]

That interest rate you're lending is solid. I would have gone up closer to 8! Great tips as always!

[@joymae]

You're very well knowledged in rental properties! Thanks for sharing with us your info!

[@gregbradbury847]

That was fast, thanks! I’ll have to watch later...

[@EdwardInTX]

Side note: lately I've been posting my videos on "the real estate millionaire mastermind" group, and it helps with views and channel growth. People need to see your stuff more!

[@Kimberly-sm1bj]

would love to see a side by side comparison of your end profit if you 1) rent a home until the mortgage is paid off and then sell, OR 2) you owner finance until it's paid off. and which would you prefer?

[@rickthele5382]

Thank you Mandy. When you make your technical video can I ask that you let us know what accounting software you use for your amortization schedule along with does it update the amortization schedule when buyers make extra payments on principle. Also do you use cozy to collect the mortgage payment (even though it's really set of for rentals and tenants) ect. Thank you very much!!!

[@ItsMandy]

The title company usually gives us an amortization schedule, but there are websites you can print one from for free as well. I made myself an Excel spreadsheet that I use for people who pay over the minimum payment - it automatically adjusts the remaining principle and interest based on whatever they pay. I use cozy on two of them, one guy deposits it directly into our bank account, and the other guy mails a check. Cozy works fine though!

[@janjoy9759]

Can landlord still do seller financing if they still have mortgage on a rental property? If so , how?

[@sheritacotten5293]

why no down payment?

[@ZachGinnOfficial]

What's the cashflow looking for this one?

[@mariomejia7832]

Does the current mortgage allows to sell the home to your tenant?

[@ItsMandy]

Yes, I but I will probably just match the average mortgage rate the bank is offering, so probably about 7%. You can go higher if you want and I feel it would still be fair, but I’m happy making 7% plus the appreciation I have in the house. Also going higher than 7% would probably make the payments too high for my tenants.