This episode of The Most Dwanderful Real Estate Podcast Ever is all about turning your Subject To deal into real sustainable wealth by offering owner financing to a new homeowner. Many families who fell on hard times during the recession about 10 years ago have still not been able to build up their credit enough for a bank to give them a home loan, so they are eager for owner financing home ownership opportunities to get them back on track. Of course, you will want to check their credit history to see if they have been making their rent, car, and credit card payments on time because if they have been consistently late, they will not pay you on time regardless of what they promise you.
Not only is owner financing a lifesaver for the original homeowners and the new homeowners, but it is a surefire way for you to create wealth. Over the course of 1 owner financing property lifecycle of 5 years, you should be able to make $60,000, so imagine how lifechanging doing multiple deals per year could be.1