How to Structure a Seller Financing Offer

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Күн бұрын

Today, I’m going to share with you How to Structure a Seller Financing Offer to a Seller.
The business of creating financing to purchase properties. This allows you to sell acting as the bank, receiving monthly payments, without the use of any lending institution involved in the transaction. When you seller finance properties from sellers, you can buy without a credit check or applying for a loan. This will allow you to buy as many properties as you can get your hands on. If you finance all your properties the conventional way with banks, there will be a time in the future when the banks will not finance you as often because you will have too many loans on your credit report.
A Seller Finance Offer can be structured in so many ways and in this training video, you'll learn how I do it.
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Chris Goff started Real Estate Investing in 1999. Chris didn't have any money to work with, so he was interested in learning 'no money down' real estate strategies. Since then, Chris has spent the last 2 decades building wealth in real estate along with building the #1 Real Estate Investing Software Program for Real Estate Investors… REIPro.
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#sellerfinancing #creativefinance #ownerfinancing

Пікірлер: 177

@tylerscott9203 7 ай бұрын

Just did my first seller finance deal on a triplex that brings in 2k per month! 225k purchase, 5k down (and an additional 5k down in year 2), 0 interest, 10 year ballon. Monthly payment to seller $500

@ChrisGoff 7 ай бұрын

Awesome! Great to hear, and thanks for posting.

@ryanm9371 10 күн бұрын

Who holds the Title? What if you default?

@michaelmoore-realestateage176 Жыл бұрын

This was one of the best breakdowns of a creative finance offer I have seen. Simple and very informative thank you

@ChrisGoff Жыл бұрын

Appreciate that! Check out: kzfaq.info/get/bejne/Y7FgjNOYnsC1mqM.html for complete seller finance training.

@thefreemanworldexperiment Жыл бұрын

I just read a book in 18mins and 16sec. Chris, this is absolutely phenomenal. Thank you a million!

@ChrisGoff Жыл бұрын

You are very welcome!

@desztino9829 Жыл бұрын

@@ChrisGoff hey Chris have been following you for years and learned a lot thanks! Question, what if the property doesn't appraise when the balloon is due? Would we be including a clause that states that it must in order for us to refinance or sell and cash out? Thanks

@ChrisGoff Жыл бұрын

@@desztino9829 I would first try and renegotiate the price with the owner, or extend the date. When you seller finance and the market changes, you're stuck. Just like buying a normal home, car or anything else. This wouldn't be normal if you purchased it right. Thanks for the comment

@desztino9829 Жыл бұрын

@@ChrisGoff thanks Chris, merry Christmas to you and yours. the more I think about it the more lease options make the most sense because there's only an option to buy within the agreed upon term. whereas, a balloon in an owner finance contract is more like an obligation. Unless we can include an appraisal contingency. Would that be a way around it?

@nigelnedd5261 Жыл бұрын

Do you mind giving me the name of the book ?

@donacooter2823 8 ай бұрын

Such an easy and simple breakdown! Exactly what I needed! Thank you!

@ChrisGoff 8 ай бұрын

Glad it was helpful!

@maryb5696 Жыл бұрын

Learned a lot from this video, thanks!!

@pedroramires5049 6 ай бұрын

I bought a residential lot land with utilities owner financing..and the agent thid all this work i just came in with the $$$ . I got it for 33k. At 7% intres rate.and i gave Dow payment of $12k thats including the closing i pay. And i pay $666 a month for 36 months. In total when is all done i will have paid $ like around 39k total.

@zeekflash6924 Жыл бұрын

Finally , video I been looking Thx you sir

@ChrisGoff Жыл бұрын

Happy to help

@rogeliodiaz216 Жыл бұрын

This is great, better then most- giving value and straight into it

@ChrisGoff Жыл бұрын

Appreciate that! Thanks for commenting.

@15CRWN Жыл бұрын

Bro you’re are the man for this , much appreciated🔥🔥

@ChrisGoff Жыл бұрын

Appreciate that! Check out REIPro Software for all your real estate investing needs.

@show2780 Жыл бұрын

Hi Chris, best I've heard on this topic. Thanks and weldone

@ChrisGoff Жыл бұрын

Appreciate that!

@pibaltop Жыл бұрын

thank you. amazing video and information. you are brilliant

@themrjameswhitejr1386 2 ай бұрын

Love your right to the point teachings. This is either what influencers don't understand or don't want to do.

@ChrisGoff 2 ай бұрын

Appreciate the comment!

@paulremolina8788 2 жыл бұрын

Thanks for sharing. This video can really impact people's life, it I'll for me. Thx again

@ChrisGoff 2 жыл бұрын

You are very welcome and glad you liked it.

@diegohooker 2 жыл бұрын

Lots of good information here, thanks for the video

@ChrisGoff 2 жыл бұрын

Glad it was helpful!

@queenakunne8163 7 ай бұрын

Amazing, i really love this breakdown, thanks

@ChrisGoff 7 ай бұрын

You're very welcome!

@qaiserqureshi4024 2 ай бұрын

Mr Chris Goff - What a great presentation on this subject - Appreciate and Thanks - God Bless You - Regards

@ChrisGoff 2 ай бұрын

You are very welcome

@jeanmanga9585 9 ай бұрын

I really love you video. Thanks for sharing this information.

@ChrisGoff 9 ай бұрын

You are so welcome!

@Apaul6857 Жыл бұрын

Well explained. Thanks a lot.

@ChrisGoff Жыл бұрын

Appreciate that!

@jonathonnila733 2 жыл бұрын

Very helpful !!

@ChrisGoff 2 жыл бұрын

Glad it was helpful!

@mikebrown2050 3 ай бұрын

I have a quick question do we mention the AM to the seller or is that what we just talk with or pitch to the buyer when talking the seller financing offer and explaining it to them with your example of the $350k

@korysstone Ай бұрын

Thank you for the video

@ChrisGoff Ай бұрын

You're welcome

@bigdoggpickle 6 ай бұрын

Great stuff! Long live Big Man Goff !!!

@ChrisGoff 6 ай бұрын

Rock on!

@dylanmorin8174 Жыл бұрын

Great video bravo!

@ChrisGoff Жыл бұрын

Appreciate that!

@ritahogikyan8560 Жыл бұрын

Great video👍👍👍

@ChrisGoff Жыл бұрын

Thank you!

@marystead8445 2 жыл бұрын

Thank you for great information. I liked the examples you gave.

@ChrisGoff 2 жыл бұрын

Thank you Mary!

@kabughoshifah.uganda256 3 ай бұрын

Ooooh wooow your the best thank you Soo much

@ChrisGoff 3 ай бұрын

You're welcome 😊

@pedroramires5049 6 ай бұрын

Can work with the numbers if I'm the seller.

@BorisB-mw8gk Жыл бұрын

Hey Chris. Thank you for great information in this video, however i was hoping to see the breakdown of monthly payments - what is the percentage of monthly payment of loan principal and interest. Appreciate your help!

@ChrisGoff Жыл бұрын

You will need to use a mortgage calculator to have a breakdown of payments and how much interest is charged against the payment. It changes every month.

@BorisB-mw8gk Жыл бұрын

@@ChrisGoff Thank you for your reply, however my question is can i pay to seller 70% principal and 30% interest? Would it be called 4%? Thank you

@liveonlynow Жыл бұрын

you are the best

@ChrisGoff Жыл бұрын

Very nice! Appreciate that

@josephmccrillis8446 8 ай бұрын

@chrisgoff I just found you and subscribed. I am excited to see all this content! Question...When I make a Seller financing deal I need a lawyer to draft up the details, a Title company to verify title and an inspector to check out the home. Do I need anyone else on my team? I have an interested seller, I own various properties, and this is my first time going after seller financing.

@ChrisGoff 8 ай бұрын

I always like to have an attorney draft up the documents, and then you can close with the attorney or a title company.

@feewynnoc Ай бұрын

This is a great video to watch and learn about Subto. I have a question I hope Chris or someone can help me. How do I get a Subto contract?

@ChrisGoff Ай бұрын

We go through a real estate attorney for all seller finance contracts. Sub-2 is just a clause in this contract. Thanks for the question.

@DadBodRocks 5 ай бұрын

How would you go about getting a comp for commercial property like car washes?

@ChrisGoff 5 ай бұрын

I would use a local Realtor that understands the commercial market in that area.

@BirdDogRealEstate 2 жыл бұрын

Thank you for the video! Have a great weekend :)

@ChrisGoff 2 жыл бұрын

Appreciate that :) You too!

@BirdDogRealEstate 2 жыл бұрын

@@ChrisGoff thank you

@xchulo2242 10 ай бұрын

This was amazing so much information thank you so much! if your able to can you make a video if you were to trying to Wholesale off of this seller finance deal!!

@ChrisGoff 10 ай бұрын

Appreciate that and thanks for the suggestion of our next video. Coming soon!

@xchulo2242 10 ай бұрын

If you could as well when making the same video talk about where and a good place to get buyers of your finance deals thanks Chris your the best!!

@douglashagan65 2 жыл бұрын

If you having trouble with one of your units say a condo and you're not able to collect the rents or anything then I could take over the payments rent to own make a offer on the property

@ChrisGoff 2 жыл бұрын

You can do either a lease option or seller finance. Always will have a better quality person with a cash commitment

@douglashagan65 2 жыл бұрын

How much down how much a month and how long can we do it for creative real estate between the seller and the buyer we come up with the terms

@ChrisGoff 2 жыл бұрын

You want to go as long as you can with seller and shorter with new buyer. The terms need to be lower with seller and higher with buyer. These terms dictate the amount and assuming you are making money between the spread. Each deal is so different so can’t put an exact dollar amount in a general example. Hope this helps

@KloudDragon 5 ай бұрын

Great video: question.. Does the seller pay insurance and taxes out of their payment? Or, Do I as the buyer pay it directly?

@ChrisGoff 5 ай бұрын

The buyer will directly pay the bill regardless if it's included already in the owner's payment.

@cashonly6117 4 ай бұрын

@@ChrisGoffI had the same question, just didn't understand. So even though the buyer furnishes the money, does the seller keep the insurance and taxes in their name? I guess I need to study that part more, like where does the buyer pay into and then how does the seller distribute the extra funds for that stuff.🤔

@ChrisGoff 4 ай бұрын

@@cashonly6117 Happy to coach you through the process. Check out my coaching program: kzfaq.info/get/bejne/osl1a8mFx8iWeY0.html

@h.o9126 4 ай бұрын

@@cashonly6117did you ever find out an answer to this?

@aforookraku253 Жыл бұрын

Do you have a template i could use to make an offer not sure exactly what to say

@ChrisGoff Жыл бұрын

We have the offer formula, plus the offer template included at: www.myreipro.com/

@steph8307 Жыл бұрын

I am using a realtor to make seller financing offers. Any suggestions to offer when, of course, agents are looming to get paid but trying to keep down payment low?

@ChrisGoff Жыл бұрын

They either have to agree with waiting until the final sale down the road or take a small amount through the down payment. This is why I don’t make offers through agents. Hope this helps!

@steph8307 Жыл бұрын

@@ChrisGoff Got it. Sounds like off-market is the best route to go then. Thanks

@kenziecashflow 11 ай бұрын

another great thing to do is contact the listing agent directly and ask them to be also your buyer's agent. this allows them to "double dip" and they'll be more motivated to get you the deal

@tl9859 Жыл бұрын

Can you not amortorize for the 30 years, can we do just a 5 year loan? Do you have a calculator link to use?

@ChrisGoff Жыл бұрын

You can amortize it however you see fit, anything less will just increase the payment. We have a calculator in our software or just Google it

@strongqawii510 11 ай бұрын

Hi Chris, I’m in the Bay Area and just starting to get my feet wet on seller financing. I’ve actually had some “FSBO” and actual owners that have advertised that they are open to seller financing. My question is could I contact you to help close a deal or structure it once I have a sellers agreement to seller finance?

@ChrisGoff 11 ай бұрын

I only consult with coaching students on deals. You can learn more at: www.chrisgoffrealestate.com/coaching/

@karenhager916 2 жыл бұрын

What interest rate would you charge for land only ?

@ChrisGoff 2 жыл бұрын

It can be anywhere from 8%-20% depending on the location and value.

@TrishZenCorner 2 жыл бұрын

What would this seller finance breakdown be for purchasing a business??

@ChrisGoff 2 жыл бұрын

The concept is the same, the finer details depend on the business.

@manuvns Жыл бұрын

How do i structure Seller Financing if i have a mortgage on rental property ?

@kenziecashflow 11 ай бұрын

the buyer would buy the property using a wrap method. You would keep your existing loan, and the buyer would pay a title company the terms you agree to, and from that payment, your payment with your current loan is paid down. you then keep the difference for yourself. this is the same as a Subto, except with a bit of margin for the seller.

@Alch8Fi153 Жыл бұрын

Blessed Greetings over your way Chris & to Bo as well! Dropping this comment to ask about structuring seller finance terms and assigning those terms to a end buyer/investor as an exit strategy in the likeness of wholesale assignments. Do you have a video that includes that exit strategy? Thanks much Brother! 💪🇺🇸

@ChrisGoff Жыл бұрын

Hey there, I do have a video on How to Wholesale a Pre-foreclosure which is seller financing: kzfaq.info/get/bejne/o6magpaDt9DKd4k.html

@Alch8Fi153 Жыл бұрын

Just seeing this! 👀 Rodger dodger much appreciated! Blessed Memorial Day! 🫡 💪

@dilshodgaziev3277 5 ай бұрын

Thanks Chris, really great info. Just want to ask if 0% interest on 1M$ property allowed/legal? I heard that 0% interest on seller finance over 100K purchase price will be problem with IRS, could you please confirm that is a correct statement?

@ChrisGoff 5 ай бұрын

Unfortunately, charging 0% interest is not an option.

@dilshodgaziev3277 5 ай бұрын

@@ChrisGoff I guess it is due to imputed interest?

@esperanzapotter3953 2 жыл бұрын

How do you figure out the Balloon payment?

@ChrisGoff 2 жыл бұрын

It's negotiated between you and the seller but I like 5 years in general. Thanks for the question!

@Brian-uv3kp Жыл бұрын

Does loan term with seller have to be 5 years or can you structure to never have a bank involved?

@ChrisGoff Жыл бұрын

You can structure the term with the seller however you see fit and what works for them.

@kenziecashflow 11 ай бұрын

you can do 30 year amortized, 30 year term. thus leaving out the bank completely.

@wildwoodtop Жыл бұрын

7:00 Sir I contacted my accountant about seller financing on my personal home and he said it is a requirement by the IRS for me to charge the buyer the current rate the feds have set at the time of the real estate sale / settlement (which is currently 6% 😲) have you ever heard of such 🤨 Has there been a new law implemented lately 🤔

@ChrisGoff Жыл бұрын

I've never heard of such a thing. Maybe your accountant can share the actual law that requires this? And we can share it with everyone on the channel. Thanks for the question.

@kenziecashflow 11 ай бұрын

@@ChrisGoff this is a law im dealing with right now with a wrap I'm buying. the seller has to make the rate 4.03 or else anything else under that, he will get taxed still as if it's 4.03%. so to combat this, we just amortized the loan to 50 years so the payment would be the same as we had with the originally agreed upon interest rate.

@athenatong3768 Жыл бұрын

If I’m selling it on my own, and a real estate agent brings in an offer, should I review the offer with a lawyer to make sure I’m not missing anything?

@ChrisGoff Жыл бұрын

Absolutely, the only person you should trust is YOU!

@athenatong3768 Жыл бұрын

@@ChrisGoff what’s the best way to find a local real estate lawyer?

@ChrisGoff Жыл бұрын

@@athenatong3768 local real estate club or just Google.

@jinzhang3062 Жыл бұрын

What about the buyer will not make payment as scheduled? Take him to the court and get the property back are a big headache

@ChrisGoff Жыл бұрын

Yes, you would have to foreclose, but pay them to leave if you have problems getting them out. This isn't common, by the way.

@leephan590 Жыл бұрын

is the total pid to seller 404,914.27? insead of 414,914.27? just trying to see if i am doing it right

@ChrisGoff Жыл бұрын

$414K is the total paid to seller... be sure to include the down payment. Hope this helps!

@leephan590 Жыл бұрын

@@ChrisGoff how did you get the monthly payment of 1,623.21. Still trying to figure it out

@ChrisGoff Жыл бұрын

@@leephan590 you have to amortize the loan which we do in REIPro as well as a mortgage calculator.

@leephan590 Жыл бұрын

@@ChrisGoff where is it located in the REI pro?

@ChrisGoff Жыл бұрын

@@leephan590 Under Main Menu - Business Center - Mortgage Calculator

@selenajackson1126 Жыл бұрын

I have a seller that’s willing to do seller’s financing and I need HELP!!!!!!

@devitomichael Жыл бұрын

Why are you adding taxes and insurance into the monthly payment? Isn’t the seller more interested in the amount of interest they will make from you rather than some co-mingling or obfuscation of funds? Shouldn’t taxes and insurance be a point of negotiation, a function of the seller’s comfort with you reimbursing these expenses vs trusting that you will pay them should the need to foreclose ever arise?

@ChrisGoff Жыл бұрын

It all depends, most sellers mortgage payment includes taxes and insurance so giving them the total makes more sense. Taxes and insurance are a non negotiable point and has nothing to do with the numbers. Each situation and person is different.

@devitomichael Жыл бұрын

@@ChrisGoff You say it yourself “taxes and insurance …has nothing to do with the numbers”. So why did you INCLUDE them in the “Total paid To Seller”? Let me clarify my confusion. Including taxes and insurance in the monthly payment is nothing out of the ordinary. But why would you include taxes and insurance in the total price that you paid for the property? You added up all of your monthly payments, which included taxes and insurance (and interest), and then added that number to the down payment and final balloon payment to get the total amount paid to the seller. It seems as if there exists (intentionally?) an obfuscation between the “Total price paid to seller” as in equity, and the “Total price paid to seller” as it relates to the asking price in addition to EXPENSES, in this case taxes and insurance. I guess my question is, since technically all of these numbers can still be considered “accurate and correct” as presented, was this intentional?

@ChrisGoff Жыл бұрын

@@devitomichael The total payment to the seller = Down Payment + Principal/Interest Payment for 60 months + Balance of loan = $414K Down = $10K Total Principal & Interest Payment for 60 Months = $97,392.60 Balance after 60 Months = $307,521.67 Total Paid to Seller = $414,914.27 Sorry if I made that consuming in the video. Does this help?

@CandidTamera Жыл бұрын

@Michael Devito, Taxes and insurance do not have anything to do with the seller. It is the property taxes the county assessor receives and the insurance is required to protect the property against a variety of hazards such as fire, slip and fall, etc. Neither taxes or insurance goes to the seller but is an expense that must be included with the principal and interest. All four elements principal, interest, taxes and insurance PITI often go together but only the principal and insurance goes to the seller if the seller provides full financing.

@ChrisGoff Жыл бұрын

@@CandidTamera that is correct if you’re only assuming the seller doesn’t have a mortgage where the taxes and insurance are paid separately. Most sellers would want this included in the total payment. There a lot of ways to structure a seller finance.

@gianthills 5 ай бұрын

For me this only makes sense if you know you can rent out the basement or whatever. That will cover all the payments. If that isn't an option, you're digging a hole.

@ChrisGoff 5 ай бұрын

Yes, the numbers must work.

@andrewdominguez6181 Жыл бұрын

Im a seller, how do I know that the deal that I agreed to is beneficial to me. Thanks

@ChrisGoff Жыл бұрын

I would first say, don't agree to a deal that is not beneficial to you. Too many benefits to list here and would suggest heading to my seller finance playlist: kzfaq.info/sun/PLDAZsKKKKW0KoYk4F5oPl9PBe3SPxO6D2

@andrewdominguez6181 Жыл бұрын

How do I know the buyer is legit. They emailed a letter showing there POF. And they want no interest in the deal.

@ChrisGoff Жыл бұрын

@@andrewdominguez6181 As the seller, you can always do a credit check and verify references. Usually when someone sends a POF letter, they are cashing you out, not a seller finance. Is there even an offer on the table? Or are they trying to assign your deal to another investor? Lots of things to consider when dealing with people but if something doesn't feel right with this buyer, say goodbye. There are others out there that have legitimate seller finance offers and is a great strategy from both sides of the table. Hope this helps!

@andrewdominguez6181 Жыл бұрын

@Chris Goff I'm trying to find out what I would receive the contract is 317,000 for the house. 121,000 still owed. And a 20,000 deposit and no interest. If he sells the house later I would get the difference

@MyRatingsMakesSense 10 ай бұрын

So seller financing is not useful for buy and hold rentals? You have to sell to pay off the balloon 🎈 payment

@ChrisGoff 10 ай бұрын

They are great for long-term rentals if you set the term with the owner, that makes sense for your exit strategy. It doesn't have to be set at 5 years. You can then re-finance and pull tax-free dollars at the end of the balloon.

@MyRatingsMakesSense 10 ай бұрын

@@ChrisGoff While responding to your comment it clicked. Refi at whatever the remaining balance is so long as the banks interest rate doesn’t cut into profits.

@ChrisGoff 10 ай бұрын

@@MyRatingsMakesSense That's correct!

@roxannehowell7691 Жыл бұрын

I have a potential deal that I'm working on and wanted your opinion on whether it could be a seller financing deal or just a wholesale deal: Owner owes $120,000 Home in pre-foreclosure Behind $18,000 Home appraisal $175,000 ARV $216,752.64 Buyer price $140,000 Auction date 11/30/22 Repairs: none according to owner

@ChrisGoff Жыл бұрын

I really can't give you advice on specific deals without you being in my coaching program. Sorry!

@gipsytree Жыл бұрын

@@ChrisGoff how do we get into coaching program? I have a home that owner might consider seller financing. After spending almost 2hra viewing property and getting a feel for owner (he's also the listing agent) has turned multiple offer from flippers because he has a sentimental attachment to property (parents old home ) wants to sell to family. This would be my primary residence raise my family in. He said would knock off $30k from $895k asking price as home needs work (1980) build. He mentioned he needs $500k for other investments, he seems well off multiple property owner so hers not hurting for $ home sits vacant majority of the year. We hit off pretty good and I think can persuade to owner fiance if structured right. Have 20% down but would like to get in with least amount possible. Not looking to flip/rent this is a long time probable forever l home for me in my family. This is just so over my head and overwhelming i have no idea how to structure this deal. Pandemic 🏠 craze really left us in the dust and inventory is very non existent in this neighborhood. If there is anything you can do to help me out in this situation i would really appreciate it. Been patiently waiting 3yrs on sidelines & think my have found someone to work a deal with. My only fear is that values are lower in 5 years time if balloon option is taken & rates could be substantially higher. Thank you

@ChrisGoff Жыл бұрын

@@gipsytree You can email us at: coaching@myreipro.com and I can send you the details. Thanks!

@kenziecashflow 11 ай бұрын

this would be a perfect Subto deal. pay the money behind and maybe a bit more as the downpayment, and take over the existing mortgage.

@jimmywagner9641 2 жыл бұрын

Are you going to update the multiple offer program?

@ChrisGoff 2 жыл бұрын

The multiple offers is a Cash Offer, Lease Option and Seller Finance. Not sure what you would like me to update but I will be glad to do it. Just let me know, thanks.

@jimmywagner9641 2 жыл бұрын

You have done new videos on cash, lease options, and seller financing. Are you doing a new video on multiple offers ?

@ChrisGoff 2 жыл бұрын

@@jimmywagner9641 Yes, I can always update them with a twist. Thanks for the recommendation.

@zacharycaruso2935 10 ай бұрын

I dont understand, what do you do at the 5 years? Seems like you're forced to sell to pay it back. What if you want a cash flowing rental from a deal like this.

@ChrisGoff 10 ай бұрын

You negotiate the term with the seller and if the seller will only finance it to you for 5 years, then you must cash them out. You’re not forced to do anything outside of what you agreed to do.

@bu5761 8 ай бұрын

@@ChrisGoffhello sir. I watched and have this question. I have a buyer who has made me an offer which states the same terms as your video, only he wants to pay interest only on the 30 yr amortization along with the 5 yr balloon. My concern is he won’t have much skin in the game after 5 yrs and if something doesn’t work out (for him) he could just walk away and leave me with a destroyed property. I’d also miss out on the extra income I would have generated by just renting it myself. Thank you for your time.

@ChrisGoff 8 ай бұрын

@@bu5761 A 30-year amortization is standard, but if you have concerns about this person, it's best not to proceed. You can use REIPro's deal analyzer (DEALPro) to calculate your returns over 5 years and make a decision based on that. But... what if he pays you on time, and eventually cashes you out by refinancing? That would be a pretty good deal for you. Go with your gut!

@bu5761 8 ай бұрын

@@ChrisGoff wow thanks for the quick response! I will take a look and well that’s what I would hope for is everything to go as planned.

@h.o9126 4 ай бұрын

@@ChrisGoffif someone cashes the seller out by refinancing in 5 years, (let’s say the term was for 10 years) does the refinance only pay off what the remainder of the loan is or is it based on the amount the seller would have made in interest for the terms agreed upon for the 10 years?

@raheemtheinvestor 2 жыл бұрын

Can you just borrow the money?

@ChrisGoff 2 жыл бұрын

You can always borrow money until the bank cuts you off. This is another great way to buy properties without going to the bank... along with many other benefits.

@raheemtheinvestor 2 жыл бұрын

Chris Goff just the way you explained it in the video I know your a genius and expert. But I meant borrow the money(OPM) to for fund the downpayment etc at closing.

@ChrisGoff 2 жыл бұрын

@@raheemtheinvestor yes absolutely and private money would be the best. Thanks for the clarification.