352: Rookie Reply: Seller Financing & How to Buy MORE Real Estate on YOUR Terms

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 28 December 2023

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Seller financing is a great way to fund real estate deals on YOUR terms. But why would a seller agree? In this episode, we’re taking a deep dive into the topic—showing you how to pitch seller financing like a pro and get your offer accepted! Welcome back to another Rookie Reply! Beyond seller financing, Ashley and Tony discuss the ins and outs of scaling a real estate business and some of the most common mistakes that rookie investors make along the way. You’ll also learn why you should keep a mortgage in one person’s name, how to minimize your debt-to-income ratio so you can scale faster, and how to identify the perfect loan products for your portfolio. Finally, good contractors are hard to find, but our hosts deliver some expert advice on how to negotiate with them and protect yourself! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover The best ways to pitch seller financing (and get your offer accepted!) Pitfalls to avoid when taking on more real estate debt Scaling your real estate business faster with UNIQUE loan products How to negotiate pricing with contractors for your home renovations Why you MUST build your own scope of work when getting contractor bids And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-352 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie episode 352.
0:05.0	My name is Ashley Kerr and I am here with my co-host Tony J Robinson.
0:10.0	And welcome to the Real Estate Rookie Podcast, where every week, twice a week we bring you the inspiration, motivation, and stories you need to hear to kick your investing journey. And today, we got another Ricky reply for you guys. We're going to be answering your questions and if you want to get your
0:24.3	question featured on one of our episodes head over to bigger pockets.com
0:28.1	slash reply drop your question there and we might just pick it for the show.
0:32.0	So today we're going to be answering two questions on
0:35.4	seller financing.
0:37.1	Creative financing is hot, hot, hot right now.
0:40.9	So if you have questions about seller financing financing this is an episode for you.
0:45.0	We have a question about scaling and what does that look like for Ricky and then we
0:48.8	finish off with the question about contractors as well so everyone's favorite thing
0:52.3	is working with contractors. We talk about
0:54.0	how to do it the right way. So last thing before we get into the questions, if you guys haven't
0:58.0	yet, please do take a few minutes to leave an honest rating and review the Ricky
1:01.7	podcast on whatever platform it is you're listening.
1:04.0	The more reviews we get, the more folks we can reach.
1:07.0	And when we reach folks, we tend to help them.
1:08.0	And that's what we're all about here at the Ricky podcast.
1:10.0	So take a few minutes, leave that rating review, and we just might read it on the show.
1:12.8	Let's get started with our first question from Roosevelt. A B.P. what's the best way to get
1:19.7	seller financing? Is there a down payment, is a realtor involved and what other fees are associated with getting it?
1:28.0	Great question.
	...

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