Breaking Down Creative Finance for Sellers

Рет қаралды 26,167

7 ай бұрын

Why would I sell on creative finance? How do I protect myself as the seller in a creative finance transaction?
Pace Morby answers these questions and more as he deep dives into creative finance from a seller’s perspective, including what questions to ask and why a seller would consider going the creative route. He helps explain by referencing specific deals he bought with seller finance and subject to. There are numerous benefits for both buyers and sellers when using creative finance vs selling/buying the traditional way, and Pace will break it all down for you.
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a KZfaq video for entertainment purposes ONLY ❎

Пікірлер: 162

@PaceMorby

Gosh.... When I was brand new to real estate, if someone would have taught this exact video to me, it would have accelerated my growth by 5 years. Its insane how little people understand about this topic that only highly experienced people know and keep to themselves to keep the competition low.

@joelgoble9544

Dude, it’s the same thing as having a second mortgage or anything else. The first mortgage lender has claimed to the property overall before anyone else as long as they get paid and their terms are taken care of throughout the loan process. There is nothing they can do. Just like they can’t tell you who you can rent your property to or how much you have to rent it for. They can’t get in the middle of other deals that you make involving the property as long as you honor the original terms of the mortgage, they get their money they can’t say shit.

@joelgoble9544

I would want to service my own loan in hopes that the buyer pays me a large down payment and a couple years of monthly payments more than I could get from renting. I would be trying to get more money than I could from renting less responsibility and I would be hoping that the buyer defaults so I could do all of this and still on the property. It would be like renting out my house, but the return would be larger and I wouldn’t have to worry about any repairs or any property management headaches at all. Best case scenario They fail to hold up their obligation . I get the house back in better condition and at a higher value then I originally sold it at. In all honesty it seems like predatory lending.

@TylerAndMeathaTapley

Everything you are talking about is fine, but if there is an existing loan in place...MOST loans state that if the property is sold "or quit claimed" then the lender can require payment immediately. It is DUE UPON SALE CLAUSE. If that clause isn't in there...that is fine...but yes...lenders could and can require the debt be paid immediately if they find out you have transferred ownership of the property. This is on FHA/ VA/ and most conventinoal loans. You never mention this clause which I find very interesting.

@joelgoble9544

I would never do a deal with you though your to smart. I would look for someone that is in there early 30s on top of the world because work is good that is willing to go past 35% of there income. An immigrant is probably best due to lack of credentials. Ballon there interest in 3 years and I’ll either get high asking price plus 3 years of rent in full or the ballon will entrap them and I’ll get the house back.

@MrUKanat

I admit i dont get many things. For starters, if seller has like 20% paid for the mortgage. Why would they transfer deed to you guys without making back these 20%?

@FreedomVibesWithAlma

I greatly appreciate how you slowly and clearly explained and gave real examples. GOAT TEACHER ❤❤❤

@TaraMullarkeyWorldwide

1.5% is not a good rate?!

@seminole2001

What is stopping say Wells Fargo calling the loan due because you’ve triggered the due on sale clause? If I’m Wells and I want that loan off my books so I can sell you a loan at the current market rate, even though the current loan is performing. What happens then? Are you gonna give the house back to the seller? Now multiply that by how many loans you have at Wells Fargo. They could turn out your lights tomorrow if they wanted to.

@jorgevelasquez9955 28 күн бұрын

FANTASTIC PACE! First time I have run into your videos. I want to sell my rental property to my current renters being the bank. Can you do more videos advising sellers how to make sure you are protected.

@degerrian

This is possibly your best video....I'm sending this to all my sellers

@imeldainterino7747

Lol 🎉 you hit the point Pace - seller net sheet and im glad as a listing agent for many years I do explain it to my clients before listing. I lose some of them whose not willing to pay on closing. Later, i pivot to explaining about subto deals. Great video, thanks!

@TyronJonesTJ

Absolutely loved this video!! So many questions I had were answered. Thank you Pace!

@gabatsns-creative

Pace I have been waiting with baited breath for just sucha video series and here it is...! Breaking it down into chapters so to speak makes it so much easier to get it straight in my mind and to transfer it to the seller. Also having this kind of tool to just let the buyer watch if they so choose or give to a realtor is UNBELIEVABLY helpful! Wow what a resource!!

@GaryRabatin

Pace, don’t apologize in advance for your greatness. The free beans 🫘 you drop is priceless.

@nelsonearnshaw4961

Professor Pace back at it again. Wow! This is true genius laid out so everyone can see the value of thinking outside of the box. Thank you for continuing to expand the greater market with such value!

@erickacameroncarr

Sooooo much value in this video Pace! Thank you isn't enough dude. 😩 I'm getting my ducks in a row to join the mentorship. There's no other way, you're the best!