Owner carry home flipping

http://www.homeflippingschool.com

This project was a great learning experience for two reasons. 1). We convinced the owner to carry the loan, we brought it current and thank her with some cash, allowing us to get a $600,000 project for less than $100,000 total, no need to buy the house or borrow money. 2). Houses that sell over $600,000 are a lot more difficult to sell than houses under $400,000, buyers are more picky, demanding, more difficult to get a loan (we did get 2 offers on the first week buy buyers could not get loan) so I am not buying any more houses on this price bracket. Still, a great rehab, added a bathroom and the process of getting the property deed to us and have the owner carry the loan was interesting, all orchestrated by an experience realtor and title company. Check out the video below

Category:

Education

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