My parents had to go to court because they purchased their home like this but then the owner didn’t want to give them the title. They almost got ripped off: Thank goodness my mom held on to all of her receipts.
Always have any agreement in writing ( A Contract ) , this will avoid any problems down the line moreover, the Contract must be drawn up and managed by a Lawyer to make sure it is Legally binding on both Parties .
Banks need more regulation, really. Banking as "let's gamble" is a terrifying concept in its entirety. There are no consequences since they learnt in 2008 that the government will always provide for them. These bank crises are really concerning. The United States faced its biggest macroeconomic problems in fifty years during the Great Recession and the entire financial crisis, which resulted in below-target inflation, high unemployment, and the need for extremely accommodative monetary policy. And this is just the start!
One of the factors contributing to SVB's collapse was the banks' excessive asset leverage since 2020. Having a large amount of money in the bank has never been acceptable to me. I just work with a financial advisor to concentrate on varied investments, get my returns, and then either spend them or do it again. I've never felt more at ease with my money.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
There are options that spread across multiple banks. I use a non-beginner broker that protest up to 3 million dollars and provide 4.58% returns on cash, it's always a good idea to consider working with an advisor for financial planning
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
We bought our home that way! We finished paying it and now we owe it free and clear. Just be careful and do a lot of research and make sure there is not outstanding debt in the house and who is the owner and that person is decent and she or he is not going to rip you off. Many things to consider. Trust your gut. Good luck to everyone out there
@@WilliamEllison it was not easy and took us decades, I almost give up too. Many tears and working hard, still it was an uphill situation. For the regular people with no support that are trying to survive this is not a fair game to play, it seems we are always handled the short stick. Be relentless about your dreams. Don't give up. It is possible, think outside the box. I am not saying it is easy, because we went to hell and back, just don't give up.
No one really owns their homes or u wouldn't have to pay taxes , stop paying n see what happens , taxes u r renting your home n property. If the govt decides to take your home they can illegally. It's called. Land grab
My first home was rent to own. Second was owner financed and the one I’m in now that is paid for was a bank repo and got it for 1/2 the asking price. 40 acres and a house 😁
As far as owner financing goes, what was the criteria that the owner wanted from you before he was satisfied enough to move forward with the contract ? Credit, income etc..
Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginning!
Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply focus on diversified investments through a financial advisor, collect my profits, which I either spend or repeat the process. Never been this comfortable with my finances.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
REBECCA NASSAR DUNNE is her name. She is regarded as a genius in her area and works for Equity Services inc. She’s quite known in her field, look-her up.
Thanks for completely unpacking the process. So 10% down✅, $4-500 lawyer fee✅, home warranty $800✅, title fee✅. Great straight forward info…no gotcha’s. Appreciate the info Mr. Turner 👍🏾❗️
YOU FORGOT "INSPECTION & MR TURNER'S FEE! 😀 IT'S WISE TO GET THE HOME INSPECTED; AM SURE WAYNE & HIS TEAM ARE NOT WORKING TO LOCATE PROPERTIES FOR FREE. I GUESS TO SPARE US THE STRESS HE LEFT THAT OUT 🤦
I’m in the UK and it was unheard of when I bought mine this way back in 2005. Every solicitor I spoke to said it was a risky way to buy property, as no one did it this way, until I found a solicitor that was open minded. Now I own mine outright and I’m not even 50
I bought my home this way, figured amortization longhand & showed the math every month w/option to pay more on principal also option to miss 2 months per year due to hardship. Paid in full in less than 10 years❤
I bought one like this to flip. Have six percent on ten years. I made phenomenal money on the property thru sweat equity. To do this though you have to know how to do inspections, know basic wireing and plumbing, my wife actually taught me how to finish sheetrock.Make sure you have a tittle company you can trust to register your contract. If your contract isn't registered you have no legal claim to the property.
@@carolyncarlson6410 Sounds like you did your homework. I'm in Eastern Tennessee and looking for another property. It's hard here. A junk two bedroom one bathroom runs 60/80 k in Cleveland.
@@michaelholder3933 Hope it works out for you. My place was trash when I moved into w/racoons n weeds up to the roof in places. I just started doing what I could & turned it over to my son in 2012 as I relocated to Iowa. He keeps working on it & the only thing it really needs is a little paint outside It was solid & I saw potential Hope you find a good home too-
@lazyk8262 Homeownership in Hawaii isn't easy. The most expensive state on earth even sells dilapidated houses for a million dollars. A solid home in Oahu-Honolulu is at least $2 million and even that requires updates.
This bank crisis is so far from being over. Anyone who has been around for longer than 12 years, knows a credit crisis isn't over in two weeks. Makes me laugh seeing folks thinking this was all over so quickly. We are seeing a credit contraction that is gonna lead to a major contraction.
In my opinion, some of these banks were attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I did this and it works great. The owner and I only dealt with Title Company and that's all. If you get the owner to agree with the sale, the title company will do everything for you. No real estate fees, no banks. You pay your payment to the title company only. When you finish, the title company does all the paperwork and you get a clear title then.
Great video. I've bought and sold homes like this. The only thing I'd add is make sure the attorney specializes in real estate law. Most attorneys only learn what they need to pass the bar then forget it.
I did this with 2 1/2 acres of raw land in Arizona. The owner of the land didn’t depend on my payments because they were wealthy and could afford to allow me to put a cash payment down of only $5,000 and $374/month at high 10% interest rate through first American title company and made my payments to the title company. I took a huge hit with the 10% interest to pay it but within a few years, I split the property into acre lots and sold the back lot after selling my home on the other lot and made an absolute fortune. That 10% interest I paid monthly was absolute after the math was done when I sold both properties.
This is how I sold my house. I didnt bother with credit check. Not only did they always pay on time but they also had insurance and paid the property taxes. Every bank denied them. I went through the title company and they did all the research. We didn't need an attorney. I was fortunate that The buyer was also a property inspector. We basically cut out a few people and saved money. I don't recommend selling a house without an attorney but know that it can be done if you know the laws in your state/county.." As is" means just that in the contract outside of building regulations.
You can find these homes for sale without calling a real estate agent. Many areas of our country right now are so desperate to sell their homes they will do it without a down payment or a very small down payment.
Banks are selling mortgages. People always say it's a good option to buy at discount, but with the market turmoil and everything at stake in present economy, I'm thinking of buying stable coin to hedge against inflation, or is it all right saving over 350k ?
There are options that spread across multiple banks. I use a non-beginner broker that protest up to 3 million dollars and provide 4.58% returns on cash, it's always a good idea to consider working with an advisor for financial planning
Agreed, financial advisors play a key role in portfolio allocation and i've been using one since late 2019 just before covid outbreak. So far, I'm barely 25% short of $1m ballpark goal after subsequent investments.
My CFA SOPHIE LYNN CARRABUS a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Back about 30 years ago, if a veteran purchased a house under a VA loan, that veteran could sell his house with a buyer (non-veteran) could purchase his house with just a dollar down, and anyone could assume that VA loan without a credit check, the bank just needed your contact info to put it under your name, that is how I purchased my first house, its too bad they no longer seem to have that same program any longer.
I am a veteran in this exact situation. My ex has gone through the process to purchase my va loan house. It is a refinancing process but as I am the vet I am allowed so much( like 650k in total va benefit towards home loans) I bought the house in 2020 at a 2.9% loan. My ex wife has to refinance at close to ten or whatever it is now. She qualified to buy it but has outstanding debt the bank is making her pay off before we close. So I think the point I want to make is even though I have 650k of va loan benefits available my credit only allows so much purchase power. So I’m living in a tent twill she can afford to pay her past debts acquired before we met paid off and close on her loan.
Most people who are selling need the money immediately so that they can put it toward their new home loan. Most wouldn't be ok with letting someone pay them for 30 years. I have sold property this way and its a great option though.
I bought my almost 5000 sq.ft. property this way. It was 30,000 dollars with a 2000 dollar down payment. 400 a month at 8 % . It sets on 4 city lots and it's beautiful! I will have it played off mid next year! I got very lucky, thank you Jesus ! It works very well, but look out for the scammer.
My first house was a government repo, I paid $64,500 for it, lived in it for 5years fixed it up and sold it for $230k to buy the house I’m in. When my dad passed I inherited his paid of property and a carried loan that he had for his business he owned, so I get payments every month from that for the next 27 years.
@@hackman3Very true!👍 Ironically I was just watching a video about generational wealth. Most who've benefited from it are nonchalant and arrogant about it. They'll call others losers and scold them for not living within their means.
Only way we could've bought our house was if / when our rich friends bought it for us and we paid them back over a span of five years. We've long since paid the house off, the bank didn't get a single penny and i love that.
A friend of about 15 years has offered us a similar deal. However we are not comfortable and now he be pissed off as he will not answer my calls or text. That made us feel we made the right choice.
I'm going through a similar situation now... as I'm in the process. Wish everyone the best, and remember to stay in tune with God. As you'll persevere, gain strength and peace. Keep your head up and remain focused
It sounds great, but home prices on average are about $450k which im sure you know. That makes the down payment $45k and add to that another point or point and a half in interest rate, feels like it becomes 6 in one hand, half a dozen in the other. But it is great to know that there are alternatives to the traditional ways of home buying and its awesome that you took the time to put this information out and make ppl aware
IF THEY CAN GET THE APPRAISAL BOARD IN FRONT OF CONGRESS OR A JUDGE FOR THE ILLEGAL WAY THAT THEY ARE APPRAISING PROPERTIES THE COST OF HOMES WOULD FALL DRAMATICALLY
You mean on contract, that's how I've been paying for my house now for 12 years. There is no need to refinance. I should be paid off this next year. My payment is 700 a month, but i pay 1100 most months. Knock down the principal and interest fast.
The downside to land contract is, the property is subject to possible loss, if there is a court judgment in a lawsuit against the seller. A court judgement supercedes a private contract.
if when you buy the property you put it in your LLC, make sure that you have the deed and file it at the county records and get insurance on it. always check with a lawyer and laws in your state.
I know this works , my dad done it many years ago , it helped a struggling young family, thank you for bringing it up. Best of luck as it will not work in Australia any more Greed Rules !
they need to bring back loan assumptions. is how I did it years ago. all you needed was what owner wanted, and they could take over the payments... banks make it a hardship today. careful. NEVER DO IT FROM ONLINE! TOO MANY HOME SCAMS GOING ON.
We tried to do a loan assumption and B of A refused to even speak to us about it because the owner was deceased. What’s crazy is we had the income and then some, and they ended up having to sell the home at auction at a loss.
Banks are crumbling one after another as a result of the uncontrollable market.. Could there be any potential in the stock market for a boomer like me? I am working on an approximate estimate of $3M for retirement.
Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!Read more
Well, I've been researching advisors lately because the market news I've been seeing hasn't been that positive. Who is the individual who helped you, and is he or she still around?
Stacy Lynn Staples ‘is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
That's the way I am buying my property, but you have to make sure you understand the contract fully. There are people out there that will try to take advantage of the buyer. Always understand your contract before you sign it.
Your videos are always so informative and delivered in an easy to understand way - and I always learn something from them - thank you so much for this! I truly appreciate it. 🤗
Good info: remember you can always send an extra $50 a month and pay down the loan quicker. Just make sure whoever is taking the payments properly accounts for the extra payment and interest saved and keeps the amortization updated. Banks used to offer collection accounts and made the calculations as soon as the payment hit the bank. Also...ask who will be taking care of the paperwork to clear the loan off county records once the loan is paid off 15-20 years later. Once it took me 8 months for people to get moving on filing the release (at their cost). Keep all your receipts!
Wayne, good information but in my experience of purchasing owner financed properties over the last 18 years I've never seen an owner willing to only accept 10% down. Individuals typically like round numbers so if they're selling a house for $350k then they might say they want $50k down--which is roughly 15%. The last owner financed property I bought was $600k and the seller wanted $100k down. Not quite 20% but still a round number. I agree with you that most owners don't necessarily require the 20% down that banks do but I'd say you need to be in that 15% to 18% range making it a nice, round number. Also, there are owners who offer OF specifically to prey upon bad credit buyers with those 2-3 balloon payments you mentioned. They're betting the buyer can't get their credit straight in 36 months so they'll get the down payment and foreclose on the property. Rinse and repeat. I've seen it happen. That's why I always insist on a minimum 7-year balloon and advise others to do likewise. Enjoyed the video.
usually the owner wants cash for a reason - theyre trying to buy another property, a new car, or something they had their heart set on. If you can give them enough for that, or trade them what they want, theyll be good.
@@nellim9239 you have to pay off the remaining loan balance at 7 years. usually the borrower will refinance with another institution before that point.
10% down, Plus the ABILITY to make the continual monthly payments…who has NOT BEEN INCOME VERIFIED as being capable. I mention all this despite buying my first home on a DOT, private. Worked out great.
Unsure how that can happen. Most mortgages have due in sale clauses and have to be paid off before transferring title. I've done three seller financing deals and every seller owned their home free and clear.
@@flipdiva0007We "owner financed" our house that had a mortgage on it. We had to do it as a lease purchase until they got a mortgage on their own. They were allowed to use the down payment they gave us as the down payment to get their mortgage.
It all sounds good what he’s saying but why other extra fees for an attorney if you’re dealing with the property owner this is something that I would bring up before putting anything down you’re not going through a PMI and you’re not going through a bank. It just depends. You should get a contract with the owner, so you are protected yes you should get it inspected totally Hawaii varies. You could do monthly or yearly but beware of the owner. Make sure they have no liens owe anything, etc.. Do your homework before you put 10% down. You never know that not telling you everything I’m not showing you.:(
We've done owner financed houses, it works. Just make sure you go through a title company they research any liens and such and if they miss anything they are responsible for paying it not you.
My son has been paying rent 3.5 years, hoping his landlady will be open as she remortgaged. I've drawn up a contract that includes rent to own for down payment and market value at time he and she agree the title will transfer. Do the legwork if you use a lawyer to reduce cost. I wouldn't use an inspector unless they have references, qualification's may not mean much.
Greetings from UK Mr Wayne. You have given us one of the best advise to follow and it helped me a lot, in which direction is best to use my cash. Recently we moved to nice cottage in country side and my landlord kind of hinted to make entrance to our property in other side of the house! So we don't need to cross each other around the pool area! Thank you for being most honest real estate flipper and a guide cheerios.
I bought 20 Actes in West Texas, VTB, $200 Down, $100/Mo., x 7 Years! Net $8,500! If I'd have had the Cash, It would have been just $5,900! However, I bought it, starting whike I was Laid Off for a 3 Year Stretch! And yes, it was pretty easy, because they offered those terms, up front!
I’ve took back several houses over the years .. one property 3 times and another twice .. finally sold one in 2019 ( wished I didn’t ) lol especially after prices on homes and rent went up starting in 2020 .. but anywho yes this is a great way to buy a house or like me sell houses .. been doing it since 2000👍
Hi Wayne, you RULE! I'm looking to buy this way since I recently ruined my credit. I'm only looking for a small cheap piece of land for around $20,000. Planning for a tiny home and a big garage
I thank you thank you thank you, I’m not even halfway through the video but this knowledge has been secret and I thank you for sharing your knowledge to the people. God bless you 🔥🙏🙏🙏❤️
My problem is my credit score dropped to a zero from 800, after the last of my student loans aged off my report. The only loans I have ever taken out were my student loans, on 3 degrees. They are are paid off in full. I don't have one single derogatory item in my report, and I do not use credit cards. strictly debit. I thought I was being responsible. The credit bureaus want to act like my "history is too short" even though at the bottom of my report it says I've been tracked for 30 years. Have had the same E-Trade account for over 20 years. 2 years ago with 30K in the bank, I couldn't get a loan to save my life. Didn't understand. Went to credit Karma and saw how and why my score dropped. I got punished for not be being stupid and using credit cards.The solution everyone kept saying was get a secured card. ABSOLUTELY NOT. Why would I prepay a company to hold money for me, that I can use to prove I am a responsible and credit worthy? I proved it by not owing a single person on the planet a damn thing, loans paid off, and no debt at 46 APPARENTLY NOT. Resently, when I really needed a loan CareCredit for a sick pet, and I didn't qualify. Heart breaking... but it turns out vet was scamming me anyway. when I couldn't qualify they kept lowering the treatment. Finally they sent me home with some saline solution in a lactated ringers (cost $12 and you need a script), charged me almost $800.
great way to cut out the banks and trade directly with each other. It requires trust on both sides but offers an alternative route for many who fail the standard bank criteria.
Thank you for this video! I would have never thought of this (even though I have heard of it vaguely). You broke it down so that I could be taken seriously. I am now in the process of purchasing a property using your advice! Many thanks to you. Thank you for sharing your knowledge free of charge💖
@@ia6980 so focus on the 0.01 % again .. what you focus on expand. You can decide and tell your mind that 99 % won’t or tell it things always work out for you. I can tell you this 100 % work and that’s how I started. But .. gotta work on mindset first. You create your own reality. If you don’t believe you can you’re right.. if you believe you can you’re right. So pick, scarcity or abundance 🤷🏾♀️🤷🏾♂️
Most people want the money of front, so what makes you think that homeowners trying to sell a property are going to just be the bank now, and essentially wait for you to pay off the entire loan of the home that you're buying ? Maps perhaps it works in Niche market, and perhaps you cater to that Niche market, but this isn't going to work for most people, in any country
@@NKbutnot Exactly. I'm also getting the idea of buying land that's zoned residential on those vendor terms. Then buying a home that's being upgraded to a new one that's being sold to remove, and relocate it. Needs a lot of checks and definitely you need money to do this. But overall the costs will be less.
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
Great video's Wayne. Question: if a lot (1/2 acre) fails a perk test for a septic tank, why can't you just dig another perk test several to see if there's a an area that actually passes the perk test.? I hear folks say you don't want that that lot because it failed the perk test. The sound could be softer 50 feet another direction?
I can clearly tell you for a fact from my own observation that flood zone depending on where you live can easily go out the window if your town has a good clean drainage system, and even UPGRADED it in SOME way OR ANOTHER Let's say some places are near a creek as you mentioned, if your town has an excellent drainage system, flood zone CAN go OUT the window, as long as those drainage systems are cleaned and WELL MAINTAINED
The bank crisis isn't over yet, and experienced individuals know credit crises don't end quickly. Some find it amusing that some think it's resolved, but in reality, we're headed for a major economic downturn due to this credit contraction.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
A common oversight is that banks operate solely in the service of yield. Personally, I am hesitant to keep substantial sums of money in a bank. Instead, I opt to invest under the guidance of experts, reap the advantages, and diligently save for my retirement.
@@Olsontim21 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
‘’Annette Christine Conte’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé
😊 Wayne i think you give more then you get on these video's, i know you are advertizing, and good for you, i think this information should have been in public school becase its usefull. 😊 thanks.
@@TheRealWayneTurner Agreed, when I leave California I want to buy land I can build on in Tennessee mountain's with no utilities, Because I can make my own electrons 😁 just a road in to 1 to 5 acres out side of city limits. 🤠🇺🇸
@@dutchesscocosmom2288 Hydrogen generator running electric generator, and 5000 watt solar panels inverter store battery chargers, and put two dissimulor metal stakes in the ground to wires to charge phone, and 12 inch square metal plates sealed in plastic dip with wires attached plates in the attic hot wire down, ground wire to copper grounding stake.
I’m finna bust my ass with overtime and you finna help me. I just want a small home in Baton Rouge and it doesn’t even need to be that much!!!!! I’ll fix that house up with my own two!
Thank you for your videos. For the past 30 years I have been a general contractor in several states, the last 10 in the state of Texas where I have built fourplexes, triplexes and duplexes. And I can assure you that within the multi-family world they are always in high demand. If you are interested in a partnership to develop this type of inventory let me know.
I'm in Australia. My parents bought a house this way. There is a website I saw a while ago called vendor finance properties or something like that. Check it out. People still do this.
Gen X had no boundaries, no rules, no laws to save us, and we know how to find to you with out a phone or map, we know how to light fire works & our holidays trips we’re leaving us outside with a tent camping with friends or going to theme parks where rides had no seat belts… THERE is much more, but as we prefer to say fark around and find out! XXX
I like this whole idea, but I can’t do it for two years because I have to go with my daughter to East Carolina University while she goes to school there for two years and after that on I’m doing what I wanna do. So I’ll get back with you. Glory to GOD!
Thank you so much for sharing this. I’m on board. I’m a first time homebuyer! I’m so excited. I’m working on saving up the money. I’m looking for a 380k house!!! Great for being transparent. I would love to work with you when i get the cash
to be clear: This video exists for people/families that cannot or do not qualify for a traditional loan. But it must be said that ANY amortized loan will NEVER replace the speed and ease of paying off your home with simple interest (via HELOC) of course you need to have equity…Selling on owners terms only works if the seller is selling their home undervalued to current asset prices, respectively…
Fantastic video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
My parents had to go to court because they purchased their home like this but then the owner didn’t want to give them the title. They almost got ripped off: Thank goodness my mom held on to all of her receipts.
That is deplorable! Praise The Lord it went in her favor.
That was mean by them.
But there is usually a contract between the owner and the buyer, right?
Always have any agreement in writing ( A Contract ) , this will avoid any problems down the line moreover, the Contract must be drawn up and managed by a Lawyer to make sure it is Legally binding on both Parties .
ALWAYS, have a signed and notarized contract. KEEP a record of all returned checks or receipts of payments.
Banks need more regulation, really. Banking as "let's gamble" is a terrifying concept in its entirety. There are no consequences since they learnt in 2008 that the government will always provide for them. These bank crises are really concerning. The United States faced its biggest macroeconomic problems in fifty years during the Great Recession and the entire financial crisis, which resulted in below-target inflation, high unemployment, and the need for extremely accommodative monetary policy. And this is just the start!
One of the factors contributing to SVB's collapse was the banks' excessive asset leverage since 2020. Having a large amount of money in the bank has never been acceptable to me. I just work with a financial advisor to concentrate on varied investments, get my returns, and then either spend them or do it again. I've never felt more at ease with my money.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
There are options that spread across multiple banks. I use a non-beginner broker that protest up to 3 million dollars and provide 4.58% returns on cash, it's always a good idea to consider working with an advisor for financial planning
I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m
Could you kindly elaborate on the advisor's background and qualifications?
We bought our home that way! We finished paying it and now we owe it free and clear. Just be careful and do a lot of research and make sure there is not outstanding debt in the house and who is the owner and that person is decent and she or he is not going to rip you off. Many things to consider. Trust your gut. Good luck to everyone out there
I doubt it.
@@WilliamEllison it was not easy and took us decades, I almost give up too. Many tears and working hard, still it was an uphill situation. For the regular people with no support that are trying to survive this is not a fair game to play, it seems we are always handled the short stick. Be relentless about your dreams. Don't give up. It is possible, think outside the box. I am not saying it is easy, because we went to hell and back, just don't give up.
Bought my 1st home this way
No one really owns their homes or u wouldn't have to pay taxes , stop paying n see what happens , taxes u r renting your home n property. If the govt decides to take your home they can illegally. It's called. Land grab
You said it right. You owe it free and clear.... to the tax man.
I did it 3 times. It worked perfectly for me. The banks said I didn’t make enough money to qualify. I never missed a payment ! It can be done
👏 Great job!
Nb east coast disability but I can rent rooms to help 🎉🎉
The lenders are a real waste of time. Of course, you can have a loan. There a joke. That's all they are.
My first home was rent to own. Second was owner financed and the one I’m in now that is paid for was a bank repo and got it for 1/2 the asking price. 40 acres and a house 😁
As far as owner financing goes, what was the criteria that the owner wanted from you before he was satisfied enough to move forward with the contract ? Credit, income etc..
@@KamiAmwashyou'll have to @ her
Nice! Well done you! I applaud your success. Wow.
@@KamiAmwash we did a contract through a lawyer.
My grandmother bought her house rent to own, after renting the house for many years
Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginning!
Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply focus on diversified investments through a financial advisor, collect my profits, which I either spend or repeat the process. Never been this comfortable with my finances.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
REBECCA NASSAR DUNNE is her name. She is regarded as a genius in her area and works for Equity Services inc. She’s quite known in her field, look-her up.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Thanks for completely unpacking the process. So 10% down✅, $4-500 lawyer fee✅, home warranty $800✅, title fee✅. Great straight forward info…no gotcha’s. Appreciate the info Mr. Turner 👍🏾❗️
This is great news !!
On a $500 thousand dollar house you are talking about $60,000 dollars. No way.
And thank you for breaking down even more for the slow folks in the back like me 🤚🏽 😂😅
YOU FORGOT "INSPECTION & MR TURNER'S FEE! 😀 IT'S WISE TO GET THE HOME INSPECTED; AM SURE WAYNE & HIS TEAM ARE NOT WORKING TO LOCATE PROPERTIES FOR FREE. I GUESS TO SPARE US THE STRESS HE LEFT THAT OUT 🤦
@@crand200334-10% down is normal even with a good credit score and conventional borrowing..
This method makes WAY more sense than jumping through all the hoops with the bank! Imagine owning a house in 2 weeks with just 10% down.
I’m in the UK and it was unheard of when I bought mine this way back in 2005. Every solicitor I spoke to said it was a risky way to buy property, as no one did it this way, until I found a solicitor that was open minded. Now I own mine outright and I’m not even 50
Please share solicitor details.❤
@cryptoconfused3400 it was 20 years ago, a solicitor in Chelmsford, Essex town centre, I can’t remember the name unfortunately
@@angeliceyeez thanks for responding. ❤️
I bought my home this way, figured amortization longhand & showed the math every month w/option to pay more on principal also option to miss 2 months per year due to hardship. Paid in full in less than 10 years❤
🔥
Awesome!!
I bought one like this to flip. Have six percent on ten years. I made phenomenal money on the property thru sweat equity. To do this though you have to know how to do inspections, know basic wireing and plumbing, my wife actually taught me how to finish sheetrock.Make sure you have a tittle company you can trust to register your contract. If your contract isn't registered you have no legal claim to the property.
@@carolyncarlson6410
Sounds like you did your homework.
I'm in Eastern Tennessee and looking for another property. It's hard here. A junk two bedroom one bathroom runs 60/80 k in Cleveland.
@@michaelholder3933 Hope it works out for you. My place was trash when I moved into w/racoons n weeds up to the roof in places. I just started doing what I could & turned it over to my son in 2012 as I relocated to Iowa. He keeps working on it & the only thing it really needs is a little paint outside
It was solid & I saw potential
Hope you find a good home too-
Hawaii real estate developer here, I like the fact that you tell the people the truth, most don't as you must know... Aloha.
Exactly
Developer? You're a land rapist. A greedy bastard. Don't know how much hell you put land and people through.
Exactly!!!!
@lazyk8262 Homeownership in Hawaii isn't easy. The most expensive state on earth even sells dilapidated houses for a million dollars. A solid home in Oahu-Honolulu is at least $2 million and even that requires updates.
Hola
This bank crisis is so far from being over. Anyone who has been around for longer than 12 years, knows a credit crisis isn't over in two weeks. Makes me laugh seeing folks thinking this was all over so quickly. We are seeing a credit contraction that is gonna lead to a major contraction.
In my opinion, some of these banks were attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I did this and it works great. The owner and I only dealt with Title Company and that's all. If you get the owner to agree with the sale, the title company will do everything for you. No real estate fees, no banks. You pay your payment to the title company only. When you finish, the title company does all the paperwork and you get a clear title then.
Great video. I've bought and sold homes like this.
The only thing I'd add is make sure the attorney specializes in real estate law. Most attorneys only learn what they need to pass the bar then forget it.
This is literally the most thoroughly speaking professional i have heard so clearly, detailed, direct, but simple. You gain a sub here. 🎉
Me too I mean my brain is literally going through this and he broke it down. What an angel thank you.
Thank you!
I did this with 2 1/2 acres of raw land in Arizona. The owner of the land didn’t depend on my payments because they were wealthy and could afford to allow me to put a cash payment down of only $5,000 and $374/month at high 10% interest rate through first American title company and made my payments to the title company.
I took a huge hit with the 10% interest to pay it but within a few years, I split the property into acre lots and sold the back lot after selling my home on the other lot and made an absolute fortune. That 10% interest I paid monthly was absolute after the math was done when I sold both properties.
Did you make money after all ? Thanks
@@nellim9239 The answer to your question is already in his comment.
I'm 67 year old world traveler. Who have never used debt my entire life time.Im.free
How did you get to tht place of security & trust in self. If I may ask
This is how I sold my house. I didnt bother with credit check. Not only did they always pay on time but they also had insurance and paid the property taxes. Every bank denied them. I went through the title company and they did all the research. We didn't need an attorney. I was fortunate that The buyer was also a property inspector. We basically cut out a few people and saved money.
I don't recommend selling a house without an attorney but know that it can be done if you know the laws in your state/county.." As is" means just that in the contract outside of building regulations.
You can find these homes for sale without calling a real estate agent. Many areas of our country right now are so desperate to sell their homes they will do it without a down payment or a very small down payment.
And how or where do we find these places?
Banks are selling mortgages. People always say it's a good option to buy at discount, but with the market turmoil and everything at stake in present economy, I'm thinking of buying stable coin to hedge against inflation, or is it all right saving over 350k ?
There are options that spread across multiple banks. I use a non-beginner broker that protest up to 3 million dollars and provide 4.58% returns on cash, it's always a good idea to consider working with an advisor for financial planning
Agreed, financial advisors play a key role in portfolio allocation and i've been using one since late 2019 just before covid outbreak. So far, I'm barely 25% short of $1m ballpark goal after subsequent investments.
@@PatrickLloyd- Could you kindly elaborate on the advisor's background and qualifications?
My CFA SOPHIE LYNN CARRABUS a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Back about 30 years ago, if a veteran purchased a house under a VA loan, that veteran could sell his house with a buyer (non-veteran) could purchase his house with just a dollar down, and anyone could assume that VA loan without a credit check, the bank just needed your contact info to put it under your name, that is how I purchased my first house, its too bad they no longer seem to have that same program any longer.
I am a veteran in this exact situation. My ex has gone through the process to purchase my va loan house. It is a refinancing process but as I am the vet I am allowed so much( like 650k in total va benefit towards home loans) I bought the house in 2020 at a 2.9% loan. My ex wife has to refinance at close to ten or whatever it is now. She qualified to buy it but has outstanding debt the bank is making her pay off before we close. So I think the point I want to make is even though I have 650k of va loan benefits available my credit only allows so much purchase power. So I’m living in a tent twill she can afford to pay her past debts acquired before we met paid off and close on her loan.
It's technically under the same terms. Guaranteed by the lender.
I’ve purchased a few homes using this method. It works and it works great. This is also a good tome to purchase a home this way for many reasons.
Hi am a single mother looking to buy a mother daughter house, but only have the down payment. Can you tell me how to find these homes. Thanks. 🙏🏽
Can you share more information and tips on buying homes? I'm a single mom as well
Yes info please!
@@paulawalters8838 nobody likes to help anyone anymore. Its turned into a sad world
Most people who are selling need the money immediately so that they can put it toward their new home loan. Most wouldn't be ok with letting someone pay them for 30 years.
I have sold property this way and its a great option though.
I bought my almost 5000 sq.ft. property this way. It was 30,000 dollars with a 2000 dollar down payment. 400 a month at 8 % . It sets on 4 city lots and it's beautiful! I will have it played off mid next year! I got very lucky, thank you Jesus ! It works very well, but look out for the scammer.
Yeah, right. 🙃
@MartineReed 4 city lots not blocks. Yes it's true
Mortgage loan? Or line of credit?
paid
My first house was a government repo, I paid $64,500 for it, lived in it for 5years fixed it up and sold it for $230k to buy the house I’m in. When my dad passed I inherited his paid of property and a carried loan that he had for his business he owned, so I get payments every month from that for the next 27 years.
wtf 😒 you got your dads money and your happy he got you out. NOT EVERYONE IN THE AMERICA HAVE Parents.
id like to see you try with your dads money 💰
Sorry I did not understand from what you get payments ? Thanks
@@hackman3what are you on about?
@@hackman3Very true!👍 Ironically I was just watching a video about generational wealth. Most who've benefited from it are nonchalant and arrogant about it. They'll call others losers and scold them for not living within their means.
@@hackman3what a peacock. Why you mad cause your parents did nothing in life
Only way we could've bought our house was if / when our rich friends bought it for us and we paid them back over a span of five years. We've long since paid the house off, the bank didn't get a single penny and i love that.
A friend of about 15 years has offered us a similar deal. However we are not comfortable and now he be pissed off as he will not answer my calls or text. That made us feel we made the right choice.
I just went through a divorce and now I'm rebuilding my life at 43. I'm renting right now but I looking to buy something in 2 yrs so I saved your name
Going thru the same thing to Jason 😅
Same situation. I need a house asap for me and my three boys..
I'm going through a similar situation now... as I'm in the process. Wish everyone the best, and remember to stay in tune with God. As you'll persevere, gain strength and peace. Keep your head up and remain focused
Good luck. 😊
As much as I want children, hearing my age group going thru this makes me avoid marriage!! 😎
It sounds great, but home prices on average are about $450k which im sure you know. That makes the down payment $45k and add to that another point or point and a half in interest rate, feels like it becomes 6 in one hand, half a dozen in the other. But it is great to know that there are alternatives to the traditional ways of home buying and its awesome that you took the time to put this information out and make ppl aware
IF THEY CAN GET THE APPRAISAL BOARD IN FRONT OF CONGRESS OR A JUDGE FOR THE ILLEGAL WAY THAT THEY ARE APPRAISING PROPERTIES THE COST OF HOMES WOULD FALL DRAMATICALLY
That part your not getting no dam property in Northern California for no 200k look at these guys accent this some dam were in Texas or Mississippi 🤣🤣🤣
@@aliensallaroundus1126I’m curious how is the appraisal process illegal? Not asking to start an argument. Just truly curious.
@@tweeze2700 then you need to move
You do realize that there are great houses in great towns all across America that under 100k ?
You mean on contract, that's how I've been paying for my house now for 12 years. There is no need to refinance. I should be paid off this next year. My payment is 700 a month, but i pay 1100 most months. Knock down the principal and interest fast.
I did the same.
Amen this is what I want. I’m a single mom to a disabled child and can’t get a loan even through my rent costs more than house payments would.
Research tax lien, tax deed and wholesale properties. You will not have a mortgage payment.
@aliciar.miller6521 what would she have? Zero payments monthly?
Amen
I have a rec for the loan.
@@aleckallal7379 what's that?
The downside to land contract is, the property is subject to possible loss, if there is a court judgment in a lawsuit against the seller. A court judgement supercedes a private contract.
if when you buy the property you put it in your LLC, make sure that you have the deed and file it at the county records and get insurance on it. always check with a lawyer and laws in your state.
I feel hopeful. This guy is so honest and straight forward. Thank you 🎉
I know this works , my dad done it many years ago , it helped a struggling young family,
thank you for bringing it up. Best of luck as it will not work in Australia any more Greed Rules !
Thank you Wayne for sharing this valuable information.
they need to bring back loan assumptions. is how I did it years ago. all you needed was what owner wanted, and they could take over the payments... banks make it a hardship today. careful. NEVER DO IT FROM ONLINE! TOO MANY HOME SCAMS GOING ON.
We tried to do a loan assumption and B of A refused to even speak to us about it because the owner was deceased. What’s crazy is we had the income and then some, and they ended up having to sell the home at auction at a loss.
Banks are crumbling one after another as a result of the uncontrollable market.. Could there be any potential in the stock market for a boomer like me? I am working on an approximate estimate of $3M for retirement.
Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!Read more
Well, I've been researching advisors lately because the market news I've been seeing hasn't been that positive. Who is the individual who helped you, and is he or she still around?
Stacy Lynn Staples ‘is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
@@Dave_East must be nice
That's the way I am buying my property, but you have to make sure you understand the contract fully. There are people out there that will try to take advantage of the buyer. Always understand your contract before you sign it.
I built mine.
No rent
No mortgage
No interest
No stranger walking in my bathroon telling me my tub needs to be replaced.
Unattached huh? 🌵😂👍
Right arm!
Your videos are always so informative and delivered in an easy to understand way - and I always learn something from them - thank you so much for this! I truly appreciate it. 🤗
Yessss! I think this is one of the best channels on YT
Good info: remember you can always send an extra $50 a month and pay down the loan quicker. Just make sure whoever is taking the payments properly accounts for the extra payment and interest saved and keeps the amortization updated. Banks used to offer collection accounts and made the calculations as soon as the payment hit the bank. Also...ask who will be taking care of the paperwork to clear the loan off county records once the loan is paid off 15-20 years later. Once it took me 8 months for people to get moving on filing the release (at their cost). Keep all your receipts!
Thanks!
Wayne, good information but in my experience of purchasing owner financed properties over the last 18 years I've never seen an owner willing to only accept 10% down. Individuals typically like round numbers so if they're selling a house for $350k then they might say they want $50k down--which is roughly 15%. The last owner financed property I bought was $600k and the seller wanted $100k down. Not quite 20% but still a round number. I agree with you that most owners don't necessarily require the 20% down that banks do but I'd say you need to be in that 15% to 18% range making it a nice, round number. Also, there are owners who offer OF specifically to prey upon bad credit buyers with those 2-3 balloon payments you mentioned. They're betting the buyer can't get their credit straight in 36 months so they'll get the down payment and foreclose on the property. Rinse and repeat. I've seen it happen. That's why I always insist on a minimum 7-year balloon and advise others to do likewise. Enjoyed the video.
usually the owner wants cash for a reason - theyre trying to buy another property, a new car, or something they had their heart set on. If you can give them enough for that, or trade them what they want, theyll be good.
Wow!!!😮😮😮 thank you for this... I didn't know this
This was the most pertinent in informative comment in the entire section. Thank you for sharing!
What is 7 year baloon ? Thank you
@@nellim9239 you have to pay off the remaining loan balance at 7 years. usually the borrower will refinance with another institution before that point.
10% down, Plus the ABILITY to make the continual monthly payments…who has NOT BEEN INCOME VERIFIED as being capable. I mention all this despite buying my first home on a DOT, private. Worked out great.
Depends on seller.. Iv had folks take a big chunk down.. then stop paying the mortgage.. be careful
Unsure how that can happen. Most mortgages have due in sale clauses and have to be paid off before transferring title. I've done three seller financing deals and every seller owned their home free and clear.
GREAT! then they take it back and keep the chunk of $$$
@@flipdiva0007We "owner financed" our house that had a mortgage on it. We had to do it as a lease purchase until they got a mortgage on their own. They were allowed to use the down payment they gave us as the down payment to get their mortgage.
This is what concerns me about doing owner finance unless it's with an LLC.
It all sounds good what he’s saying but why other extra fees for an attorney if you’re dealing with the property owner this is something that I would bring up before putting anything down you’re not going through a PMI and you’re not going through a bank. It just depends. You should get a contract with the owner, so you are protected yes you should get it inspected totally Hawaii varies. You could do monthly or yearly but beware of the owner. Make sure they have no liens owe anything, etc.. Do your homework before you put 10% down. You never know that not telling you everything I’m not showing you.:(
We've done owner financed houses, it works. Just make sure you go through a title company they research any liens and such and if they miss anything they are responsible for paying it not you.
Do a title search on the place you're looking at, make sure it's free and clear of any liens or existing bills.
☝️… 🔥…
My brother almost bought a house with almost 200k lien, luckily he found out before finalizing
How did he find out about lien ? Is there any site ? Thanks
@nellim9239 ill ask him and get back to you
This dude is speaking nothing but truth. I like this guy.
My son has been paying rent 3.5 years, hoping his landlady will be open as she remortgaged. I've drawn up a contract that includes rent to own for down payment and market value at time he and she agree the title will transfer.
Do the legwork if you use a lawyer to reduce cost. I wouldn't use an inspector unless they have references, qualification's may not mean much.
Greetings from UK Mr Wayne. You have given us one of the best advise to follow and it helped me a lot, in which direction is best to use my cash. Recently we moved to nice cottage in country side and my landlord kind of hinted to make entrance to our property in other side of the house! So we don't need to cross each other around the pool area! Thank you for being most honest real estate flipper and a guide cheerios.
My dad bought our first house this way. I totally forgot about that until this video. Thanks for the reminder!
You are so welcome!
It’s true. I helped my clients do this in Seattle, WA
I bought 20 Actes in West Texas, VTB, $200 Down, $100/Mo., x 7 Years! Net $8,500! If I'd have had the Cash, It would have been just $5,900! However, I bought it, starting whike I was Laid Off for a 3 Year Stretch!
And yes, it was pretty easy, because they offered those terms, up front!
Where did you search to locate that property?
In Spain we call this "alquiler con opción a compra", it is like renting and when you have paid all you keep the house. Very few people does it anyway
I’ve took back several houses over the years .. one property 3 times and another twice .. finally sold one in 2019 ( wished I didn’t ) lol especially after prices on homes and rent went up starting in 2020 .. but anywho yes this is a great way to buy a house or like me sell houses .. been doing it since 2000👍
Where are you located and what do you have?
Hi Wayne, you RULE!
I'm looking to buy this way since I recently ruined my credit. I'm only looking for a small cheap piece of land for around $20,000. Planning for a tiny home and a big garage
What r we doing wrong in the States?
South of the border u can build a new house for $40/sf. Brick n mortar not out of cardboard like Bellair
Regulations and labor costs.
In Mexico you pay for it but never own it. The government can take it back with no money
I thank you thank you thank you, I’m not even halfway through the video but this knowledge has been secret and I thank you for sharing your knowledge to the people. God bless you 🔥🙏🙏🙏❤️
That's crazy that a bankruptcy can be cleared in three years, but I have a negative record on my credit that won't clear for 7 years.
A bankruptcy may be discharged in 3-5 years but the court. But it is not removed from one’s credit report for 7-10 years.
ANY negative reporting can be removed with in a month or so. There are many videos on how to do so. 👍
I have 3 years left on my bankruptcy.. been 7 years. Can’t wait
@@Roman-z7tI filed chpt 7 in Maryland. States 10 years on credit, I’ll contact credit bureau.. Thks
My problem is my credit score dropped to a zero from 800, after the last of my student loans aged off my report. The only loans I have ever taken out were my student loans, on 3 degrees. They are are paid off in full. I don't have one single derogatory item in my report, and I do not use credit cards. strictly debit. I thought I was being responsible. The credit bureaus want to act like my "history is too short" even though at the bottom of my report it says I've been tracked for 30 years. Have had the same E-Trade account for over 20 years. 2 years ago with 30K in the bank, I couldn't get a loan to save my life. Didn't understand. Went to credit Karma and saw how and why my score dropped. I got punished for not be being stupid and using credit cards.The solution everyone kept saying was get a secured card. ABSOLUTELY NOT. Why would I prepay a company to hold money for me, that I can use to prove I am a responsible and credit worthy? I proved it by not owing a single person on the planet a damn thing, loans paid off, and no debt at 46
APPARENTLY NOT.
Resently, when I really needed a loan CareCredit for a sick pet, and I didn't qualify. Heart breaking... but it turns out vet was scamming me anyway. when I couldn't qualify they kept lowering the treatment. Finally they sent me home with some saline solution in a lactated ringers (cost $12 and you need a script), charged me almost $800.
What seller wouldn’t check credit on a 200K sale???
A dum one
A fraudulent seller. A slum lord seller. A seller that places profit over integrity, a private seller/addict....etc!
👀
Most don’t know how and just decide to trust the person because they “like” them. Happens all the time.
One that will foreclose on you once you default on the loan.
I've bought 3 properties this way and not one of them checked my credit. They knew me and trusted me, so it happens a lot.
actually I am so glad you are telling people this! Lawyers do this all the time. As do many wealthy people.
great way to cut out the banks and trade directly with each other. It requires trust on both sides but offers an alternative route for many who fail the standard bank criteria.
Thank you for this video! I would have never thought of this (even though I have heard of it vaguely). You broke it down so that I could be taken seriously.
I am now in the process of purchasing a property using your advice! Many thanks to you. Thank you for sharing your knowledge free of charge💖
Wow. Definitely one of the most informative videos I've seen concerning fsbos. Really appreciate this!
It’s great but 95% of sellers will not agree to vendor financing because they need the money upfront
We focus on the 5 %
More like 99.9% want $ upfront
@@ia6980 so focus on the 0.01 % again .. what you focus on expand. You can decide and tell your mind that 99 % won’t or tell it things always work out for you. I can tell you this 100 % work and that’s how I started. But .. gotta work on mindset first. You create your own reality. If you don’t believe you can you’re right.. if you believe you can you’re right. So pick, scarcity or abundance 🤷🏾♀️🤷🏾♂️
Most people want the money of front, so what makes you think that homeowners trying to sell a property are going to just be the bank now, and essentially wait for you to pay off the entire loan of the home that you're buying ? Maps perhaps it works in Niche market, and perhaps you cater to that Niche market, but this isn't going to work for most people, in any country
@@NKbutnot Exactly. I'm also getting the idea of buying land that's zoned residential on those vendor terms. Then buying a home that's being upgraded to a new one that's being sold to remove, and relocate it. Needs a lot of checks and definitely you need money to do this. But overall the costs will be less.
Thank you so much for sharing, Wayne, I look forward to contacting you in the future.
God bless you too brother, you and yours always
there's a book called whispers of manifestation on borlest , and it talks about how using some secret tehniques you can attract almost everything in life it's not some bullshit law of attraction, it's the real deal
Scam
@jennydiez820 its a troll that's a bot on many many sites
Thanks . I'm glad your channel showed up for me to find it .
If I lived in the US and wanted to buy another home I'd definitely get in touch with this man.
Good morning thank you so much Wayne, i remember living in slidell, LA and running across one of your ad's, thank you so much for this Video
WOW! You and this info is a God send!!!
I wish I had come across you a couple of years ago. Thanks for educating people. Best, Kaye
Hi Wayne
Can you do this here in UK?
sounds like a good solution to cut out the parasite banks!
I'm not familiar with the UK market, I recommend finding a real estate agent local to you. If you need help reach out to me at ContactWayne.com
I also want to know
Thank you so Much Mr. Turner for that amazing information!!!❤
Thanks as always Wayne. Lots of helpful information again.
Well done...Thanks for the info Wayne...
Great video's Wayne. Question: if a lot (1/2 acre) fails a perk test for a septic tank, why can't you just dig another perk test several to see if there's a an area that actually passes the perk test.? I hear folks say you don't want that that lot because it failed the perk test. The sound could be softer 50 feet another direction?
Curious about this too. Buying a plot of land myself
If your land doesn’t pass a perk test, you can get an aerobic septic system.. just did this on my property. More expensive, of course.
I can clearly tell you for a fact from my own observation that flood zone depending on where you live can easily go out the window if your town has a good clean drainage system, and even UPGRADED it in SOME way OR ANOTHER
Let's say some places are near a creek as you mentioned, if your town has an excellent drainage system, flood zone CAN go OUT the window, as long as those drainage systems are cleaned and WELL MAINTAINED
The bank crisis isn't over yet, and experienced individuals know credit crises don't end quickly. Some find it amusing that some think it's resolved, but in reality, we're headed for a major economic downturn due to this credit contraction.
After the '08 financial crisis, I've learned not to trust corporations. Since 2020, I've been investing with a financial advisor and have had no major losses, so I'm not going back to relying solely on banks.
A common oversight is that banks operate solely in the service of yield. Personally, I am hesitant to keep substantial sums of money in a bank. Instead, I opt to invest under the guidance of experts, reap the advantages, and diligently save for my retirement.
@@Olsontim21 How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
‘’Annette Christine Conte’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé
Im glad I found this channel.
😊 Wayne
i think you give more then you get on these video's, i know you are advertizing, and good for you, i think this information should have been in public school becase its usefull. 😊 thanks.
The more people know the stronger our communities can be.
@@TheRealWayneTurner Agreed, when I leave California I want to buy land I can build on in Tennessee mountain's with no utilities, Because I can make my own electrons 😁 just a road in to 1 to 5 acres out side of city limits. 🤠🇺🇸
@@DANTHETUBEMANhow do you make electrons???
@@dutchesscocosmom2288 Hydrogen generator running electric generator, and 5000 watt solar panels inverter store battery chargers, and put two dissimulor metal stakes in the ground to wires to charge phone, and 12 inch square metal plates sealed in plastic dip with wires attached plates in the attic hot wire down, ground wire to copper grounding stake.
Thank you for this information 😁😎
I’m finna bust my ass with overtime and you finna help me. I just want a small home in Baton Rouge and it doesn’t even need to be that much!!!!! I’ll fix that house up with my own two!
😅😅
This was very helpful. Thank you so much! New subscriber and notification bell clicked.
Awesome! Thank you!
Thank you for your videos. For the past 30 years I have been a general contractor in several states, the last 10 in the state of Texas where I have built fourplexes, triplexes and duplexes. And I can assure you that within the multi-family world they are always in high demand. If you are interested in a partnership to develop this type of inventory let me know.
Do you build in Florida?
Do you have a website?
@@bunchielove6893 web sites address is dfwconstructors.com
@@allhaillois33 we cover Texas, Oklahoma and Arizona
Website? @@bunchielove6893
Thank you for this. I checked if we have this in New Zealand and we do, which i had never heard of it.
I’m in Australia. This would be great if it was a thing here too. Don’t know much about this apart from this video though.
I'm in Australia. My parents bought a house this way. There is a website I saw a while ago called vendor finance properties or something like that. Check it out. People still do this.
Iv done this in Australia it’s called “ vendors terms “ did it in my early twenties for a block of land and only took three years to pay out .
I would like to buy land (5-10) acres, around the northern part of San Antonio. The Canyon Lake TX. area.
Gen X had no boundaries, no rules, no laws to save us, and we know how to find to you with out a phone or map, we know how to light fire works & our holidays trips we’re leaving us outside with a tent camping with friends or going to theme parks where rides had no seat belts… THERE is much more, but as we prefer to say fark around and find out! XXX
I like this whole idea, but I can’t do it for two years because I have to go with my daughter to East Carolina University while she goes to school there for two years and after that on I’m doing what I wanna do. So I’ll get back with you. Glory to GOD!
Go Pirates
I am Gen X. We went to college to get away from our parents. 🤣
@@BrianButterworth-s4z yeah well I like to save money now I don’t have to pay for a dorm smart ass. Glory to GOD!
@@MWT5428 Yeah, it's expensive now. I worked, had a baby, and paid my bills. Thank you for the compliment about my physical features.
WOW!… Thank you soooo sooo soooo much for this info. I know this will help sooo many people.
We call it a land contract
The information you have provided is greatly appreciated. I like in Canada though.
We are the credit and the banks are the debt. That's why they don't want to give you your money back.
Thank you so much for sharing this. I’m on board. I’m a first time homebuyer! I’m so excited. I’m working on saving up the money. I’m looking for a 380k house!!! Great for being transparent. I would love to work with you when i get the cash
Hey Wayne can you help us find a property in carbon county PA for a cat sanctuary?
Reach out to me at ContactWayne.com
Lucky, pussy cats!
to be clear: This video exists for people/families that cannot or do not qualify for a traditional loan. But it must be said that ANY amortized loan will NEVER replace the speed and ease of paying off your home with simple interest (via HELOC) of course you need to have equity…Selling on owners terms only works if the seller is selling their home undervalued to current asset prices, respectively…
Fantastic video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
I think l'm blessed if not I wouldn't have met someone who is as spectacular as expert mrs Fenella..
Highly recommended
Wow, I'm surprised to see Fenella mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Fenella
trade benefits