Posted by SCook85 on April 03, 1999 at 08:35:35:
You, like I, are stuck in the box of thinking of Owner financing. It was the first approach that I looked at and the approach I continue to use. If you plan on doing a deal that is profitable if you use owner financing, then it is extrememly profitable if you take them conventionally or FHA. Most of the buyers who qualify for the 90% programs that you mentioned will qualify for FHA loans and you don’t take any discount.
I advertise using “rent to own” and “owner financing” in my ads, but I am always looking for the person who can qualify for some type of bank financing. Most of the people that you can get a note sold on can also go to a bank and borrow the money. Good luck.