Have you ever wholesaled a property with owner financing?

Just a thought that passed through my mind. I’m not sure if it would work but say you wholesale to a just starting buyer for say 70k. 20k down payment with 50k note for 18 months. Anyone had any experience with this?

Your question is making my brain hurt. Trying to figure out how this wud be a wholesale deal, it has pushed my cranium to its limits.
Maybe find a seller that wants to sell with owner financing and wholesale the purchase contract to an end buyer.
Or if you own the house u can sell owner financing, but that’s a different brownie.

Yeah the more I thought on it the more it sounds like a lease to buy. Just trying to figure a way to get the price down lower so beginning rehabbers could afford more. It’s basically a lease option so not really a wholesale.

Few things that come to mind…

If you owner finance a fixer upper to a rehabber your loan will be in 2nd position if they get any type of financing to cover part of the purchase or rehab.

Financing is pretty easy to get right now so most rehabbers either have their own can or can get a loan through a bank or HML.

If you do owner finance something like this, a $20k down payment is incredibly steep. This is especially considering I could get the bank to finance 90% of the purchase and rehab. I’d suggest lowering the down payment. If it is a deal, you are well under the ARV on a house that needs work most likely. The point is, you want your buyer to put their cash into fixing up the property and quickly. If they bail after doing this, your asset is most likely improved from what it was and worth more. Take it back and do it again.