In Hard Economic times you can succeed “outside the box”. The past few years have not been a normal market so why stick to conventional business practices. Many have lost the homes they can no longer afford but can afford today’s prices.
If you have a client w/ a good down payment, 20% or more, substantial income but subprime credit score seek out the owner financing opportunities. These opportunities often come at a slightly higher sales price and interest rate but the balloon terms provide the necessary time for credit repair and/or self-employed W2 tax returns.
If you have a seller with a home free and clear this is a great way to essentially sell for more. They can get a higher sales price, substantial down payment and earn 3-5 years of interest on top of the sales price.
Looking to increase business? Try Owner Financing
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