34 - Get Creative with Seller Financing in Real Estate Investing

Episode Summary

In

this episode of Get Real Wealthy Season 2, Quentin talks about seller financing.

Quentin

says that seller financing

is one of those great tools that you can use in your toolbox to give you some

financing when you need it. The first thing is to understand what seller

financing exactly is. Oftentimes, when you're buying a property, the owner may

have already paid off that property. They don't have a mortgage on that

property, but you need a mortgage on the property. So, you can ask the owner of

the property carry back a mortgage for you, and they can get paid a specific

interest rate.

He

adds that it is also a way for investors to delay paying the capital gains tax

if they do carry back mortgage on the property. A lot of investors already

understand vendor takebacks, so it's easy for them to implement, but you have

to ask the owner. It is a simple clause and a lawyer can help you out with it. .

If you're dealing with a realtor, and you're not going directly to the owner,

your job as an investor is to educate the realtor. You may have to educate them on how to

use this creative financing tool.

He

adds that you can find seller financing on places like MLS listings. You could

have your realtor send you any listings that have seller financing in there.

as long as the numbers work

on the deal, that's the most important part for you as the investor. Another

way you can use seller financing is through private sales.

Lastly,

rental properties and buildings are the key to finding seller financing. In

conclusion, he says that seller financing and creative financing really can

boost your ROI and boost your returns.

Important Links and Resources

• https://www.instagram.com/qmanrei
• quentin@getrealwealthy.com
• https://EducationREI.ca
• https://GetRealWealthy.com
• https://DurhamREI.ca
• 15 Minutes Discovery Call - QuentinDsouza.com