Archive for July, 2009

Owner Financed Homes In Any State DO NOT Grow on Trees…

Sunday, July 26th, 2009 at 22:04  
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So, you are looking to buy that special house.  Maybe you are looking to keep your monthly payment at a certain figure.  Maybe you have recently been foreclosed upon.

Really, it doesn’t matter.  All I can tell is this:  if you think you are just going to walk down a street and have someone say, “Hey, Can you buy my home 100% owner financed, with no money down?”    I doubt it.

HOWEVER, I do know that if you are willing to learn a few key skills and start applying them…Yes, you can locate these golden nuggets of opportunity and start gathering them  like they do grow on trees.

 

Brandon

Learn today to Buy Owner Financed Homes

Ohiopyle Trip Today Turned To Tragedy

Saturday, July 25th, 2009 at 22:48  
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Update:  The story below has an unfortunate ending sadly (see link at bottom):

My dad and I went down to Ohiopyle, PA to pickup a fridge today.  On route 381, just North of Ohiopyle,…on the way home, we were passerby’ers to a crash.

A dodge pickup went out of control, flipped several times and landed on its side.  We pulled up and a guy was walking around the truck. We asked if everyone was ok, and he said 2 people were inside and he needed a fire extinguisher.  There was a RV pulling over right in front of us and they were getting a extinguisher out. 

Long story short, we pulled a girl from the top of the truck out of the driver’s side door(as it was lying on it’s side), she appeard to have a cut on her leg.  We then had a strap (since we were picking up a fridge) that we could use to hold open the door from the top.  We were unable to get the mom out of the vehicle until the first fireman arrived with his axe.  He chopped out the windshield.  Unfortunately the mom did not survive the crash. 

It was a very bad accident, and my prayers go out to their family at this time.

 http://www.pittsburghlive.com/x/pittsburghtrib/news/breaking/s_635332.html?source=rss&feed=2

Brandon

Ugly Houses – What do they look like ?

Friday, July 24th, 2009 at 16:32  
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I’ve decided to place some pics of some of the homes I’ve rehabbed…before pics to show you what some of these babies look like…if only these were scratch and sniffs.

 

Typical Bedrooms

Buy No Money Down = Owner Financed Homes

Tuesday, July 21st, 2009 at 21:46  
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Well, gave a talk Monday night at our Investor’s Group about Buying Owner Financed Homes.  Having just refi’ed out 2 properties last week, and freed up some LOC’s, I’m definately keeping my ears open for opportunities.

Listen, if you are struggling to buy your first home, or if you are an investor struggling to buy more homes, NOW is the time to learn to buy homes owner financed/with no money down.  Yes, they can both be done.

 Don’t want to give you too many details…you can read about them all after you order my Free CD on my site.  BUT, if having to pay $224 per month to live in your own home sounds good…you “ain’t seen nothing yet”.

 Happy Hunting!

Brandon 

Buy No Money Down…and Rule the Day!

Owner Financed Homes – Debunking Myths

Tuesday, July 21st, 2009 at 21:42  
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Owner financing has been around since the beginning of time.  It’s perturbing to me to see and read articles where people who supposedly are professionals, knowledgeable insiders, etc provide their expert opinions on a subject they apparently do not know a lot about.

 This post is going to discuss 3 prevalent myths that circulate in the owner financing arena.  The 3 myths are:  owner financed homes will carry a higher interest rate, owner financed homes are hard to find, and lastly, only sellers who are in difficult situations choose to owner finance properties.

 First Myth Squashed:  While it may be true that owner financed homes may carry a higher interest than what a typical lender can offer for a loan, this does not have to be the case, and in all of my experiences, has not been the case.  The terms of the loan including, but not limited to, the interest rate, amortization period (if any), balloon payment date, interest only or principal plus interest payments, etc are all completely negotiable between the buyer and the seller.  There are typically no rules and both parties are completely free to do what they would like.

 Second Myth Squashed:  Again, while is may be true that an owner financed home is harder to fine than a home with a real estate sign stuck in the yard, it is not impossible.  I can guarantee you that the main reason most people never buy a home owner financed is because they have simply never asked.  What we have is ignorant people making ignorant claims to puff their chests and beat on them, yet they have never done it.  I will however be the first to tell you that most owner financed homes are not advertised (though many are).  Most owner financed deals are hand crafted between two parties.

 Third Myth Squashed:  The reasoning that only sellers in dire straits, or difficult financial situations choose to owner finance properties is completely incredible.  I guarantee there are millions of people in this country who would love to sell their homes and be receiving a steady, consistent 5% monthly interest payment, while watching their principal be solidly protected by a piece of residential real estate.  Dozens of millions of stock market investors have witnessed their principal be reduced by 1/3 over the past 12 months.  Their interest and dividend payments are far from consistent, and nothing is guaranteed.  Just to have the piece of mind of that stead monthly income stream is highly desirable to many people.

 In summary, removing the myths that run rampant regarding owner financing is the first step in identifying potential prospects.  Once you eliminate the doubts and stop making decisions for people, can you begin to see the unlimited potential of this market.

Learning How to Buy Owner Financed Homes is the only way to go.

Brandon

http://www.BuyOwnerFinancedHomes.com