1.What is non-owner/occupied
That means the person who owns the house doesn’t live in it. Ther person living in it is not the owner, but is a tenant.
2.what does deed the house
The deed is the legal document that shows ownership of a property. When you “deed a house” to someone, you are officially saying that they are the legal owner.
3.what is owner/financed
That is where you make your payments to the person selling the house instead of to the bank.
Hello everyone I recieve Ron Legrand Book and Ihave some questions
1.What is non-owner/occupied
2.what does deed the house
3.what is owner/financed
thanks for all your time as Iam reading Iam learning like a sponge and I want to make something happen like now take care all of you
I have ordered the Legrand book, and cannot wait to start reading/learning! Something that might help if you are new to this (as I am), a book was recommended by someone on this site entitled Investing In Real Estate by McLean and Eldreed, it’s a great book that goes over a lot of basic concepts and terminology, I just got it two days ago and haved learned quite a bit. Maybe this will help, good luck!
I have ordered the Legrand book, and cannot wait to start reading/learning! Something that might help if you are new to this (as I am), a book was recommended by someone on this site entitled Investing In Real Estate by McLean and Eldreed, it’s a great book that goes over a lot of basic concepts and terminology, I just got it two days ago and haved learned quite a bit. Maybe this will help, good luck!
Posted by Rick Wheat on March 14, 2000 at 08:32:44:
Maria:
I’m happy you are looking into Ron’s book. I work for Ron, teaching at his Bootcamps and Workshops. The questions you are asking are good - they tell me that you are paying attention and learning.
As the previous post implies, the answers you’re looking for may not have been explained fully in the book. The book is primarily intended for giving a basic introduction to what can be done in the field of Real Estate Investing, not to be a complete “How To” guide to wealth.
Non-Owner Occupied is either a property owned by a landlord, or a house that is now vacant - not occupied by anyone.
Ron uses “Get the Deed” quite frequently. That is simply a term meaning to get the owner to actually convey the title to the property, as evidenced by a document called a Deed. Although it might be confusing, the original DEED is not necessary. R. E. isn’t like a car, you don’t convey ownership by simply signing the back of it. A new set of paperwork is necessary.
Owner Financing is any type purchase of a property that DOES NOT require the buyer to qualify at an institution for financing. It is typically when the owner carries back a mortgage, or when someone allows you to take over the payments of a loan that remains in the name of the seller.
Hopefully these will help you understand the concepts. If you have any other questions, you can contact me by e-mail and I’ll be glad to help you out.
