owner financing: How can I own a home today if I don’t have the credit or a huge down payment?
- 09/19/11 05:55 AM
How can I own a home today if I don’t have the credit or a huge down payment? This is a question that I am often asked and the good news is you can and my team and I are here to help show you the many options you have open to you! The good news is there are many options in the Portland Metro area. One of the first options if you have good credit and no down payment is to buy just outside Portland in areas like North Plains and Banks, these areas have a great loan product available … (17 comments)
owner financing: Are you selling your home using owner financing? Don’t collect payments yourself or it could cost you!
- 05/17/10 03:07 AM
I love owner financing as a way to both buy and sell properties. The closing costs are less, the interest sometimes is better than traditional financing if I’m buying and when selling can be a little bit higher than the traditional market rate making me a considerable amount of money. But, when I’m selling, I never, Isay never have the payments sent directly to me. I use outside escrow services to collect the payments and then disperse the funds, first to my mortgage and my insurance and then the remainder to myself. Why do I do this? Simple answer is when and if I … (16 comments)
Is owner financing dead? Two years ago, when I started on Activerain, I was told by many that I was the guy to ask a question to when it came to owner financing or lease options. But, here today, I’m looking at a market where I haven’t taken an owner financing listing in over a year. (My choice.) The 2nd thing I’ve noticed is others are starting to follow my lead once again. You see three years ago, in the Beaverton area, we had 3 owner financing properties and they were all listed by me. Then as others realized that I was having … (11 comments)
owner financing: Banks aren’t the only ones being hit with foreclosures, but there is a difference – NO BAILOUT!
- 07/08/09 09:12 PM
Over the past 6 years I’ve been in real estate, I’ve done a lot of owner financing and lease option deals for owners and buyers. But until this last summer I had never had a situation where a property was given back on a lease option or a home owner had to foreclose on a buyer. But, there was a difference with the buyers and sellers of these properties versus the ones that were in pre-foreclosure with the banks. The sellers (who also were the bank on these sales) were willing to listen to the buyers and their situations and if they … (36 comments)
owner financing: As someone who specializes in Owner Financing and Lease Options, I’m SCARED!
- 06/15/09 04:42 AM
OK, I’ve been working on this for a couple days and Owner Financing is something that is needed and It hink it can be a great tool for sellers. But Representative Brad Miller (D) of North Carolina introduced a bill HR 1728 that basically makes it so the average homeowner can’t sell their home on owner financing any more than once every three years. Here is a link to read the bill and see its present status HR1728. Here is what I see presently. I work with a lot of people that are upside down in their homes because of the current … (19 comments)
owner financing: Do you have a home to sell? Owner Financing maybe your only option!
- 10/02/08 01:56 AM
If you have been watching the news the last couple days, then you know that the reports say that it is getting harder and harder to get financing for cars, college, and especially homes. But, what does this do you, for the average home owner that has a home they have to sell? I can tell you it leaves you in a position that a normal agent will either have to wait until the banks start lending again or start lowering the price until you find someone who can either pay cash or has a good enough down payment and credit to … (9 comments)
owner financing: What do you tell a another agent’s buyer when they call you crying
- 09/28/08 11:02 AM
Today I got a call from a lady who was crying uncontrollably. So much so that I was having a hard time understanding her. But, when I finally got her to calm down enough that I could understand her, she wanted to know what she could do. She had gone with another agent, despite reading my posts and now had a 24 hour notice on her door. I didn't want to get too involved for legal reasons, but I did give her the number of two good real estate attorneys here locally. The problem was she bought a home on owner financing … (112 comments)
owner financing: Why sell your home on a lease option
- 09/18/08 04:13 PM
With more and more buyers being told no by traditional mortgage lenders, because of lack of down payment or credit history, lease options are becoming a great way to make more from the sale of your home. The great thing about lease-option is the flexibility of a property owner to sell whether its a house, or a condo. Lease-option could also be use for commercial properties. Lease-option is a complete opposite of your typical home sale. There are always more lease-option buyers than there are sellers. When you have more buyers it will surely be easier to sell your home. It will be a … (13 comments)
owner financing: I’m glad I got your attention – But, do you want to keep your license?
- 09/02/08 03:43 AM
I'm glad to say that in the last year I'm probably one of a handful of agents in the Beaverton and Tigard area that is doing better this year than I did last year. Now I know the top producers, and thanks to Google Alerts, I now know they know me also. You see one of my niche markets is lease options and owner financing and since I've been doing it for almost 4 years now, I know all about them and have even had to face some tough scrutiny. But, in the end, I have always been able to come out … (12 comments)
owner financing: I’m a qualified buyer, but I want lower payments. What do I do?
- 08/14/08 03:12 AM
With interest rates creeping up every month and down payments near 3%, I am finding more and more buyers that like the houses they are finding, but don't like the payments they are being quoted from the lenders. Thirty year fixed rate loans are nearing 6.5%, and PMI (Private Mortgage Insurance) is also going up. You, the average home buyer, may be coming out of pocket, an extra $200 every month despite having an 800 credit score. You also have to figure out where to get another 3% for closing costs! But, what if I could show you how to buy a home … (3 comments)
owner financing: Should the banks listen early to avoid costing themselves thousands?
- 07/21/08 03:04 AM
Many of us have taken vitamin c when we feel a cold coming on and why do we do that? Because we know if we don't we could be missing a lot more work and money during the down time while we try to get better. But, why don't the banks take this same approach when it comes to home owners? If a home owner who has had a good payment history calls them and says, "I'm in trouble and I'm about to go in to default." The bank tells them, "Sorry, there is nothing we can do for you until you … (10 comments)
owner financing: As the market changes, so are my clients
- 07/09/08 04:58 PM
In the last couple months, I've seen an interesting thing happen in my niche market of Lease Options and Owner Financing. There are more and more agents trying to get into my niche as they realize I'm doing more and more business. But, what happens when you get in to a niche you don't understand? You usually get yourself in trouble! I was approached a couple months ago by an agent that said he specialized in short sales and foreclosure properties and wanted me to partner with him to help him buy and sell these properties. But, after hearing his proposal, something sounded … (19 comments)
owner financing: If you don’t trust your agent or they don’t know what they are doing, why did you hire them?
- 06/25/08 05:45 PM
Recently I got a call from someone that I had met a couple weeks back at an open house, the house I had wasn't the one for them, but they were out looking and said they would contact me if they found something. I didn't want to push it as it was an open house, but they did take my card and asked me a lot of questions about lease options. Now, fast forward to yesterday when they decided to call back and say that they were sorry they didn't use me, but wondered if I would help them. HUH? Well, you … (7 comments)
owner financing: Beaverton Oregon Real Estate: Helping Families Home
- 05/24/08 06:37 PM
Why I love my career and helping people. Everyday, I have people come to me when everyone else has said no to them. They find me on the net saying I help those who are told no by others. What usually is the case was no one was willing to sit down with a potential buyer or seller and tell them they had more than one option. More times than not, the situation isn't as dire as they were lead on to believe it was. It was just a situation that the other agents weren't prepared to do that much work on … (5 comments)
owner financing: Never write an earnest money check to the agent directly or to CASH (Part 2)
- 01/22/08 07:02 AM
This was sad for me to watch, because it sounded like to me they were looping anyone and everyone who did lease options or owner financing together as crooks, which just isn't the case. Some of us are really here to help people get in to the dream of home ownership. If you didn't read my first blog about this, I suggest you read it before you watch the news video from KPTV. Here is the link to that blog.
Here is a link to the video by KPTV. I think they did a good job, but I wish they had expanded and … (4 comments)
owner financing: More and More investors are discovering that the liar’s loans are gone and I’m loving it!
- 01/14/08 03:38 AM
Sorry, I meant to say stated income loans are all but gone when it comes to buying investment properties. Why is that I say that I love the fact the stated income loan has all but gone of the way of the Dodo bird? First of all, my investors are saving more and more money by purchasing their investment properties with lease options and owner financing, and my sellers are starting to see profits of $20,000-$50,000 on their homes that are perfect for this type of investor. You see most of these homes that were bought on stated income loans before, were being … (8 comments)
owner financing: 2008 just got busier for me - I've been asked to write two books
- 01/06/08 01:04 PM
I've heard others on here talk about multi streams of income and now it looks like I've been given that opportunity in 2008. You see I've been asked to write two books on real estate, including one on lease options and how to use it to invest your way to wealth. I'm very happy to have been asked to do this, but I have to admit this is an undertaking that I'm not sure I'm ready for. I'm not exactly known as a writer as some of my favorites here on Active Rain are. But I've been told by my mentor that … (19 comments)
owner financing: “Think outside the box before you are put in to one.”
- 11/23/07 04:38 PM
I was talking to a client today and she said, "When I think of you, this is what comes to mind." I had to laugh. She said, "So many people are never willing to think out of the box and when they die, you have to wonder if they regret it. With you I'm never worried about that, you are always thinking outside the box." This thought has now been stuck in my head, and that brings up the question, am I truly thinking outside the box enough? I always have new ideas, but am I willing to implement them? When I started … (15 comments)
owner financing: Welcome to Active Rain George (The person who changed how I do business)
- 11/04/07 03:41 AM
Have you ever had a mentor? Well, I've never personally met the person that I consider my mentor, but we have talked on the phone a few times, and many times by e-mail, and let me tell you, this person changed my life! The person I am talking about is George "Mr. Real Estate" Paukert, whom at one time was the number one agent in Las Vegas, Nevada until he retired. But, I met him a few years after this when he started writing books. George is the one that taught me about owner financing, and I kind of expanded on it to … (7 comments)
owner financing: If you don’t know what you are doing, please refer to someone who does!
- 10/08/07 03:50 PM
I got an e-mail from another agent's client today telling me that she has been working with an agent for over a year and she isn't able to help her because she doesn't understand owner financing. They have found a home they like, but neither agent understands owner financing, and the deal is falling apart. She said she found me on Active Rain and read my blogs on owner financing and said I knew so much more than her agent and was wondering if I could help her agent negotiate this home they had found. You see, her problem was that she was … (10 comments)
Helping Families Home is a blog set up to help families find that perfect home for them. I have a family and I understand how hard it can be to find a home that everyone is happy with. Let me help you find that home and help your family home.
How can I own a home today if I don’t have the credit or a huge down payment? This is a question that I am often asked and the good news is you can and my team and I are here to help show you the many options you have open to you!
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