It depends on the terms you are getting. From an capital standpoint you save some money in closing costs by doing owner financing instead of a bank loan. What I would suggest is that you calculate your monthly payments for the house you are thinking of buying and compare it to the rent you will be collecting. Also, the future value of the property plays a big role. I would be willing to break even on my mortgage and rent if the house had big potential for future appreciation.
It depends on the terms you are getting. From an capital standpoint you save some money in closing costs by doing owner financing instead of a bank loan. What I would suggest is that you calculate your monthly payments for the house you are thinking of buying and compare it to the rent you will be collecting. Also, the future value of the property plays a big role. I would be willing to break even on my mortgage and rent if the house had big potential for future appreciation.
jimbodin1 9 months ago
Is owner financing a good idea for an investor that wants to purchase the home for a rent house
D1Muzik 9 months ago