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  • Writer's pictureMarc Ebinger

Real Estate: What You Need To Know About Owner Financing

Updated: Jun 27, 2023


Dan Diaz, the owner of OFmeNow.com, talks about how he got his start as an investor in the real estate industry, particularly with owner financing as his focus to help self-employed individuals buy their dream homes.



Marc:

How'd you get involved with this? And then what's your mission there?


Dan:

I started as a full-time real estate investor in November of 2015, and the focus that I really wanted to go on had to do with owner financing coming from an immigrant background. I later found out that the first home my parents purchased was through owner financing, and this is basically a situation where the seller individually finances the purchase of the property.


Later on, I learned that's usually the way most. Self-employed individuals have to purchase a home because if you don't have two years of tax returns, you have bad credit or you ride off a lot of things as you should on your taxes. It's really hard to get a traditional bank mortgage. The problem with the traditional model of owner financing is that it sucks for everybody.


There's very limited inventory. Sellers don't want to hold a note. Agents have a hard time getting paid, and at the end of the day, buyers have very little inventory to choose from. They are usually not the best homes in the best neighborhoods or in the best conditions. So it's not the kind of quality of homes business owners would like to move their families into.



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- [107] SQ Segment 2 - Clip 1 -

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