Hey everybody, this is Grant Kemp from Creative Cash Flow Comm. Today, we're going to be talking about some of the basic understandings that you need to have before delving into the world of owner financing and investing. So, let's start by defining what owner financing really means. Owner financing refers to the practice of buying a house and instead of getting a mortgage from a bank, the buyer pays the seller directly every month. The seller holds the note for the purchase. This is a tool commonly used in the investing world due to its numerous benefits. However, it's important to note that owner financing is more than just a simple phrase. It encompasses various strategies within its umbrella. One such strategy is a wraparound mortgage. In this scenario, the buyer initially obtains a loan from a local community bank to purchase the property. Afterward, they sell the property to someone else using owner financing. The sale price would be higher than the initial debt, along with a longer-term and higher interest rate. This type of transaction is known as a wraparound transaction and is an excellent way to generate a spread on interest and equity, maximizing profits. I personally favor wraparound transactions, and in a separate video, we will explore this strategy in more detail. So, if you're interested, make sure to continue watching this series and reach that section.
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Owner Financing Mortgage Contract Form: What You Should Know
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