Why Owner Financing Creates Better Deals

Deal type, you got owner financing, right? OF, also known as seller financing too.

If you didn't watch the video last night, you will, and you'll see where that fits in. The wholesaler as a source.

What's the—

yeah, uh, raise your hand if you watch the lead gen video last night. I didn't really see the board, but listen to you. Yeah, it's tough.

There's no screen.

The way we did it, we're gonna get an AI. Uh, those on Zoom who watched the lead gen video?

Oh, is that the 48-minute one? Yeah. Yeah. Cool.

All right. Uh, term?

10 years.

10 years. Debt on this property, zero, right? Equity. What's the price?

It was $175,000 for the seller. I paid $17,500 to wholesale.

Plus $17,500 was the entry fee. All right. And we'll walk through sold in a second.

Okay.

So before we dive into this, raise your hand if you know what owner financing or seller financing is.

Okay. Do you—

even though you raised your hand, do you want us to walk through what it is? Quick reminder.

Yep.

Okay.

So when we go buy a property, we're talking opposite of subject-to deal, right? Let's assume, right? That the entire property— that's how I do this with the sub-to. There's only a little bit of equity. Let's assume the entire property has no debt or 100% equity. Okay. So why would a seller sell this type of property to somebody? Well, if they're all— if it's a free and clear house, how often are they contacted by wholesalers or fix and flippers? Pretty often they're on the free and clear list. So, and what are people typically offering them? 60 cents on the dollar. 60 cents on the dollar, right? Cash. So if somebody were to not accept that offer, what would be a reason? They want a certain price. So we see a lot of, or estate planning purposes mean they don't want to sell at all. They'd rather have installments over time. So this is 10. What we, what we see, free and clear. We'd have to assume that this person is in good financial standings. Why can I make that assumption?

They're saying no.

Because it's free and clear. Because if they were in a bad financial situation, what would happen? They would probably put debt on the property. Right? Right. So that's how we can make that assumption that they're in better financial standings. Out of curiosity, Abby, do we know why the seller was selling this property?

In Pennsylvania, the seller was moving to California. Okay. I don't know the reasons why they were moving, but they basically were moving out.

They were gone. They didn't want a vacant property, and somebody approached them with seller financing. Okay, awesome. So what then happens? You, the investor, go to buy this property, right? And instead of going to a bank to get a loan, right? Instead of going to a bank to get a loan, the seller is going to provide the financing for this property, and that way you can go ahead and buy it. Welcome to my brain. Make total sense. Okay, so instead of, again, going to get a bank loan, you just are willing to— are looking to purchase this property. Seller provides the money, right, in the form of a note that's then secured to a mortgage or an IOU secured to a mortgage. So now you own the property and the seller now holds a first position or a mortgage on the property, and then you make payments to the seller on a monthly basis. You good?

Okay.

Avi said the seller actually looks like the seller, the one that he drew.

Oh, it looks just like him. I could see that. This kind of looks like Avi too. Okay. Does this make sense? So this is your other strategy. Free and clear properties. Seller is your bank. You make payments to the seller. All right. Well, let's now walk through the deal. Everybody clear on Zoom too? I can't see if there's any questions or anything.

Danielle, no questions yet. No hands raised.

Yeah, very good. All right. We sold this property for what? $240,000. Okay. Bought it for $17,000. So this was $175,000 plus the $17,000. So you're all in is what? Nice, $192,500. All right, so then let's walk through it. So our payday 1, how much do we get from the—

Between overall is going to be $34,000.

$34,000 is our payday 1. What you're alluding to is how much money did you collect up front? Then over time.

Yeah.

How much did you collect upfront?

Upfront was $8,000.

Okay. $26,000 over time.

Sorry. $26,000.

So they wanted to put more than 10% down.

It's $26,000 total.

It's $26,000 total. So it's just about 10%.

So it's $18,000 upfront plus $18,000 over time. What's the $18K like? Just so we get full example, what does that look like? It's like every 6 months, every year, just $18K a year. $18K, $18K within the next 12 months.

Okay.

$18K in 12 months. How cool is that though? Sell a property and in 12 months from now you're going to get another $18K. You're like, all of a sudden Next year you're like, wow, nice check coming in. Oh, that worked out. All right, payday 2. What is your monthly payment?

Monthly payment. Okay, so this is essentially $1,250 plus taxes.

Okay, so $1,250 is the principal-only payment?

No, $1,250 is the— from the buyer.

Oh, let's, let's talk about 2. Okay. Yeah. So $1,250 plus taxes, all in is what? $1,500 from the buyer.

Yes.

Okay.

There's a nuance here is that they paid $7,000 upfront for rentals.

So they already paid $8,000 plus $7,000 upfront. That's really cool. Well, let's, we'll keep it simple though. Yeah, but that's that's great protection for Avi, right? So he already has how many months?

You can't hear Avi.

Google for Avi. They paid seven thousand dollars upfront for rent.

Oh, they paid seven thousand upfront for rent as well. So they paid basically like five months upfront.

Because their month four months. Their monthly income wasn't three times the rent. This way, it forced now their monthly payment to be within their budget of 3 times.

So you're working with Nick on this? Yeah. So while Avi was working with Nick on this, they realized that their monthly income was not 3 times what we were hope— was what we hoped for, 3 times what they make, um, or the rent was— yes, 3 times the rent. So They then had $7,000 of prepayment up front so that way they could bring down that payment.

Nick's ears are ringing.

Yeah.

All right, your all-in is what?

$400 a month. Oh, plus taxes, so $650.

Okay, so $650. $400 of that is at 0% interest, correct? So principal-only payment. So 10 years at $400 a month at principal only. Okay, 0% interest rate.

That's the monthly cash flow.

No, so that's his monthly payment, plus he has taxes of $250 a month. So that's his total.

Not labeling it like the sheet.

So yeah, so yeah, I'm just trying to fill it in.

Oh, the sheet doesn't say with taxes. Well, you better change this sheet. What was the monthly payment?

We're not following that.

Oh my goodness. His monthly payment is $400 a month, principal only. I'm gonna do it just like the sheet. He also has $250 a month in taxes, so his all-in monthly payment is $650. Dude, is that better?

Yep.

Love it.

Thumbs up.

All right, we're following this, right? Okay, so his total cash flow is how much? $1,500 minus $650, $850 a month. His cash flow right there.

Cash. Cool.

And if you follow your sheet, it's the last line on payday 2.

Yep.

She is busting you good.

That's some serious cash flow over 10 years.

It is. What number is payment from buyer?

All right, congrats, Avi.

Thank you.

883.

Well played, partner.

Yeah, it's, it's 14. All right, price premium. We bought it for $192 and we sold it for $240. How much? What's the difference?

$47.50.

$47.50 is your price premium. That is Section payday 3, first line.

Yeah, simple.

It's simple, right? I know you guys always complicate all this. All right, $400 a month is the principal paydown times— what, what do we times this by? What'd you do on your projection?

120. I just did 3 years.

But you guys want to see that full term? Yeah, of course they do. Show the people what they want. 400 times 120 equals 48,000. I hope he's right because I'm not even questioning.

He is.

There she is, saying with confidence.

All right, $47,500 was the price premium. We had $48,000 in principal paydown over 120 months. How much did we collect up front?

$26,000.

So we're gonna subtract $26,000. Okay, so $47,000 plus $48,000 minus $26,000 equals $69,500.

Ronnie's gonna comment. Right.

Okay, so then let's go back up here because I didn't do this. $850 times 120, if it goes 10 years, is how much in cash flow?

$102,000.

Bobby, you tell the buyers, take your time.

Okay, let's add this up. $26,000 plus $102,000 plus $69,500 if it goes full term. Gives you a grand total of how much? All you smart people in the room, 197,500.

Drum roll, please.

Not everyone at once. I just need one.

197,500.

How much?

197,500.

How much? This kid's trying to get a drum roll for that.

Who's your out of 197,500? If you knew— just because I know some are gonna be like, well, what are you talking about? I had to pay this wholesaler $17,000. If you knew you can make $197,000 if you went and found $17,000, you think you'd figure it out?

Yes.

All right. Does anybody know what the rate of return on that money is?

Chris, can we go back to page 22?

No, we could tell it's day two at this point.

You should revisit it tonight after that deal you saw.

Yeah, out of curiosity, Alexis.

No, no, I was just saying yes.

Make me a soda. She said no when I asked her, and she meant yes.

Yeah?

No? No?

Okay.

1,100%. $197,000 on a $200,000 or $192,000 purchase.

Wow.

On the home. Do you think, Alexis, that you might be able to pull one of these or maybe a couple of these a year? And do you believe it? Does it make you smile? You write that down on page 22. One deal a year.

Deal a year.

That's only one deal. Time we got.

One deal.

One shut up deal. Is that the time?

Okay. Awesome.

Exactly.

And that's only one of his deals. He's got lots and lots and lots more deals on the table.

Zach, we have a question from Audrey and Dan.

Yeah, go ahead. If it's about my deal structure sheets, I'm not— I'm taking— no longer taking questions. Now go ahead, guys.

Hi, Avi. I was just curious, um, so how did you— how did you negotiate such a good rental price for this? Or I should say, in your case, it's not rental, it's a good monthly payment, because you're getting that big monthly cash flow. So how did you talk to the seller to help him see that this is going to be a good deal for him?

And how motivated was he?

The wholesaler is the one The wholesaler is the one who negotiated the deal. He presented it to me.

The wholesaler is creative, finance savvy, and negotiated the whole deal and brought it to me.

Is that the same guy I connected you with?

Yeah.

Yeah. He was like friends with another person on network.

Why doesn't he do it himself?

That's why. Why don't all the wholesalers do it themselves?

Yeah.

Because he wanted $17,000 more than he wanted $197,000. Now he probably doesn't know how to sell on rent to own. And all he thought was maybe $800 a month minus management. Maybe I got to do a little bit of work to the property, right? Make sure it's rent ready. They don't think rent to own, pure cash flow.

And another rental property himself that he's having trouble renting out. They're having trouble finding the buyer. And he did a total rehab on the property.

Yeah.

So in his mind, he probably feels he needs to do a total rehab in order to rent it out.

Doesn't take the time to get trained. There's another person in the industry that trains thousands of people to go do sub-to deals to then wholesale those deals to people like us.

Yeah.

Good.

Good.

Yeah.

Keep doing it.

Well, that's what's interesting, right? Creative financing is such a—

we'll talk about it Tuesday.

It's such a broad category, right? There's so many different things that happen within creative financing. Here's the beautiful thing about this. Audrey and Dan, and that is, as you do more deals, can you set aside some of your payday 1s to then go acquire some of these properties and not have to do the work? All right. Yes, you can.

And your 2s, like the other room, don't touch them.

Let them build up.

Yeah.

Go ahead, Dan.

When I look at this, I feel like my range, my low end of my range is too high. I should be lowering it a little bit. I mean, obviously, you know, my market like averages like $550,000 or $600,000. So there wouldn't be any $175,000 houses, but there might be some $250,000.

Sure.

Your average is median-ish, $500,000.

Yeah.

So what's wrong with $200,000 to $700,000?

Yeah.

Very similar to us.

$200,000 to $800,000, something like that.

Yeah.

Yeah, for sure.

That's where I'd definitely be if I were you.

I mean, we did a $185,000 deal that ended up being a $245,000 all 3 payments. Just if you get back to the how we started this whole thing, $199,000 purchase price or higher, even though it's slightly lower, right? $1,000 monthly payment, principal only for at least 48 months. Well, does that fit pretty close to this? Right. I see. But we doubled the timeline, right? So if you double the timeline to 120 or triple it, that's how you start creating these significant profits. And then Avi just sits on this deal. That's how he gets to live in Israel and buy some real estate deals. And he develops a good relationship. How many deals have you bought off this guy?

3rd and 4th.

Yes, 3rd and 4th deal that he's working on right now. One person.

Makes your calls easier, doesn't it? You get handed the deals.

Yep, definitely an opportunity to do so.

Do you pay off that $17,000 upfront or do you tell them to do it over a period of time?

It depends. Didn't we try to negotiate a structure with him?

Yeah. Most recent deal I have with him, I'm paying— I'm only paying him $10,000. Not this deal, another one. I think I'm paying him $10,000. I've given him $5,000 now. I'm gonna pay $5,000 over the next— over the course of the year. And he's doing that with me because I built a relationship with him.

He delivered. I think you called me, right? And you're like, hey, here's the numbers. And I was like, whoa, can you see if he'll take that over time? And Make these deals better because think about it's just as a good relationship with Avi as it is for that guy because he's like all I gotta do go get the deal bring it to Avi go get the deal bring it to Avi right because that way there's no hiccups go get structure and then if you get somebody that knows how to structure these types of deals no brainer don't teach him I think he's a fan and Uh, Chad and— oh, that couple, you know.

Yeah.

Can I ask a question?

Yeah, we've got a couple. You're second.

For insurance, how would you, um, do the insurance part of it?

Yeah, I don't think you include the insurance on the expense here.

About $100 a month.

About $100 a month. Avi needs to have homeowner's insurance or a landlord policy, and then the renter is going to have renter's insurance. So yeah, it's probably $750 a month.

All your tenant buyers are required to keep that on the property and to give you a certificate every year.

We've got a few questions on the Zoom, guys.

You're up.

For tax purposes on an owner financing, is the monthly cash flow considered active income or can you push it out?

Well, it's owner financing.

Are you talking about as the student receiving the money?

Michelle, could you unmute?

I mean, everybody's tired. I don't want to get into if the CPA's in a room, but I'm not going to tell people because I don't know every situation and the decisions their accountant's going to make.

What?

He said he only works in aerospace.

All right.

All right.

Well, Hall CPA. If you have accounting stuff like that, if you don't have real estate.

Well, I think it's just because when we were on, I was letting them know that lease purchases are going to be active income because you don't have ownership. So that's probably causing the issue, even though I told them I was not a CPA or an accountant.

All right.

Our next question is from Norm. How much, if anything, do you do to fix up the properties?

Did you put any work into this property?

I, I had to get a junk A junk person to remove all the junk. That's all that I did.

How much?

Junk removal. $800.

$800.

$800. All right.

Plus closing costs, I'm sure. Okay.

Last—

Damn, it's eating into that $197, Avi.

All right. And Judy has—

Pass on that deal.

For Avi.

Judy, please unmute.

Judy, go ahead.

Okay. Avi, for this deal, when, when—

There we go.

I'm assuming it wasn't subject to a contingent on a buyer because it was such a sweet deal.

Correct.

Okay.

Is that a question, Judy?

No, that was my assumption. Here comes the question. So when do you pay the wholesaler? Do you pay— did you— were you able to make arrangements to pay it when you got a buyer in, or did you just give them the money and close? Like, how long did it take to close?

I gave him the money and closed.

On this deal.

On this deal, and I was and I was not able to get buyers in before closing.

Okay.

Is that okay, you guys?

Yep. Okay, that was better.

Whoever moved the mic.

Commitment.

You guys might you go to your local bank for some business lines of credit over time or build up your business credit. We'll teach you how to do that so you can do these simple. The seventeen grand is not huge. So thought.

Not for that return. And he got half of it back from the down payment immediately.

Right. So you could pay that loan off if you needed to right away.

Yeah. And he's not paying interest on the mortgage either. Remember, he's collecting $850 a month.

Sweet deal.

In cash flow. How long does that take to pay off the other $800? All right, I think we gotta pivot even though we could keep pulling questions.

Awesome.

Well, since we have Abby, I think we should we should give them something special. Rick, can you please? Yeah.

Zach, I think we have something. See, we have something.

Yes. Could we zoom the camera out a little bit so everyone can see? Yeah.

Can you zoom out? And I just had a couple things I want to say.

Right.

Thank you.

I don't recall.

Oh, that's good.

Ask Sue real quick.

What?

Something special, but we want to make sure we're giving them the right something special.

Like, is that one? I think it's—

okay.

All right, we got the right ones.

Well, it's probably— yes, I was gonna say it's already outdated, but I had a couple things I want to say first.

Yeah, it's definitely outdated, but, but it's something special.

Um, in the other room just before this session, I think it was Ian said, do you do this because it's like a game or a sport? And what I share with them is— yes, it wasn't that easy. What I share with them is just like— and I said, oh, I'm super psyched for not just Nick but Zach, Kate, like as the kids became independent, that was a cool thing, right? What I said to Ian was It is the exact same thing when I watch you guys do it, right? We're going to talk about Avi and Annette today, but that lights me up. I told Annette, I called like 5 people. I told Kim, when I see them do that, it gives me goosebumps. That's what we do it for. It never gets old. So I can go on and on.

I got something to say about Avi too. So Avi, how many phone calls did we have until like you joined our community? I want to— it was at least 6 months, I think, I talked to him before you joined. And you were introduced by another friend from—

Oh yeah, I actually— I originally found out about you through— you did a podcast with Chris Waters.

I don't even know who that is, but I guess I did.

Uh, I'm a real estate broker and, uh, I was taking a course with him about growing my brokerage and you did a podcast with him and Jason Payman. I think it resonated with me.

Just not right away.

Not right away.

Well, it's trust. Needed a trust factor, having bought enough programs that do enough with. And the big trust that was mentioned, a friend of mine was in the community. Turns out someone I'd gone to high school with, who I kind of sort of kept up with. And I saw him like, okay, there's that. Finalized that trust factor.

Cool.

Well, I remember having some calls with you, and I know that your confidence level was definitely not there, and you were extremely, you know, skeptical, at least passive. I could not read Avi at all.

You get to say whatever you want when you come up in case you don't like what he says.

No, it's good. No, but then over the past like 12 months, and then especially I think once you and I started working on some of these strategies with wholesalers, I mean, all of a sudden his confidence skyrocketed and And it's not easy to make that commitment where you're like, oh, I'm going to go pay somebody for a wholesale deal. I mean, that's not an easy commitment, but you saw the path that was available for you and you took advantage of it. And now look at you now, right? I mean, this is, although this award is, you know, it's a very small percentage of what he's capable of, not only number one, but number two, of like what's currently on the books right now. So, I mean, really cool. Really cool to see this. So, But we wanted to welcome you are going to receive a 300K Club Award. Come on up here, Bobby. And as soon as he closes those other deals, we'll maybe bring out the million dollar. Yeah, Bobby. Good job, buddy. Absolutely amazing.

Thank you. Good job.

Well, this doesn't it doesn't sound light. You you worked your butt off.

Where are we looking?

We got cameras here, we got cameras there.

Yeah, I'd like to hear—

yeah, please say something to them. They— give them what they want out of you. Um, so no, no, no, no, no, you gotta hold it.

Um, yes, I was very skeptical when I started. Exactly. That's right. Yeah.

You, I guess you did read me the—

I, I started with just the QLS course because I, the concept sounded right.

I figured— Yeah.

I figured that getting the course, the, the cost of getting the course would be, would be more to get a lawyer to draw up the documents. if they would even know how to do it. So I figured, let me get the course. It's got the contracts in there. And I think it was after I got— it was after I got the course that I saw, uh, my friend Morris on one of your YouTube videos. I'm like, oh, I know him. I called him up and I asked him. He said, you gotta join. He said, just be part of the community.

He's gotta be part of the community.

Join.

I'm from Brooklyn.

We got ice on all sides, right?

Hey, hey, original.

Not anymore. Um, and then I joined the community. I got to see how genuine you guys were.

And me too.

And I mean, part of that was is that I had seen there are other, uh, lease-to-own places of all sorts of things, and I could— and And I could tell the other one's taught, get a tenant in there, a tenant buyer in there, get their down payment. You know that they're going to default, get their down payment, and then you'll just do it again and tie that property up and do it a few times. You'll make a lot of money that way. And it is exactly the opposite. You're looking for that buyer success for everybody. I mean, you see that just like Nick, like, that's your whole purpose is like, who can we get into that house that'll buy that house and make a win for them?

So that was—

and that just comes across. Anyone that's been in the community, you can see that it comes across. Um, and just like Rick, I went through every level and took the time.

It was together.

When Chris said he was going to take on 5 people, We were 2 of them in Morrison.

Right. Right.

And, um, and one thing, and Chris invited me to join President's Club and I didn't, uh, right away. All right. I, uh, for whatever reason, I just wasn't ready at that time to take on the commitment for that. And, but he said to me something, he said, I want, I want to see that success. I want to see that story of you moving to Israel and being able To to be successful at this, and it I mean it hit home. Just takes time. I'm just I'm I'm I'm your analytical not what we're there to speak to. Yeah, but you know it just takes time, and just every night the whole process takes time. I didn't. It's only been the last I've been with them three years. The last six months has really been clicking. It doesn't mean it can take should take you that long.

It's on me.

I didn't.

If you follow the steps and do what you're supposed to do, you'll get deals faster.

I didn't follow the steps. I look at my, my numbers and I'm calling here and then it dropped off and then— oh, and so you got to be consistent.

You got to do your calls.

You got to— it's a process and they— and it's there for a reason. You follow it, it'll work. If you don't follow like I did, it takes a lot more.

You can see he really follows instructions now.

Thank you.

Effort for effort. I mean, I didn't talk to you. I bet you I talked to you more in the last 90 days than I talked to you in 2 years, probably. Because why?

Because effort for effort.

He's doing it now. I mean, I literally— he didn't reach out to me and I didn't reach out to him until he started getting after it.

So, well, we could tell when it clicked in the community and then the commitment came and all of a sudden all the results came, right? Commitment before the results. So, hey, better late than never, right?

Yeah.

All right, we didn't want him to be alone though. Nick, do we have the other award?

Yeah.

Not only did we not want him to be alone, but we also— well deserving, this person in this room. She is fully committed to everything that we ask her to do. Um, when I was just being a part of the President's Club, I got to drive— I get to fly out. And, uh, that's what we do at the President's Club. We go out to their market. And I told Chris when I got back from coming from her market, I'm like, you need— we need to get her to QLS Live. We need to make sure that she has all the support in the world because she's gonna absolutely kill it. And then those of you that were on the sit-down when When she talked about how she closed that, that office building, walking away from the seller, dropping the hammer, and then getting a better deal, man, I knew we knew that she she was well on her way. So I'd like to welcome Annette to receive the 400K club. Probably outdated at this point as well. She's well on the way.

With the 3 deals we structured today, if just one of them goes, they're both 6 figures, the 2 we did today. And she's putting those offers in this afternoon.

And I would expect her to be receiving a million-dollar one of these very soon. Next live event.

That's the goal we set at QLS.

$1.1 million.

Very specific.

Awesome job.

All right, come on in. All right, give us what they want. Come on, give a speech.

It, it's going to kind of follow what Avi already shared, but the biggest thing that I can share with you is definitely consistency. It took me probably 3, 4 months to get it through Minnesota thick skull. I don't know if it was frozen, um, but Something finally clicked. And when they tell you to do your nightly accountability, the biggest thing I can tell you is please do that. They're very serious about it. They're in it with you from the very beginning. I think part of my hangup also was the mindset. It was definitely mindset. I shared a little bit of it at QLS, but you go through the different levels and you see, and I think People tend to focus on, okay, what is the split? I'm going to ask you not to do that. It's everything outside of that sheet that this whole program, everyone involved brings and they share with you. And again, they match you effort for effort. So if they see you struggling, they're going to help you any way that they can, but you have to reach out and ask for that. You have to reach out and take that when they offer that. So that would be definitely a piece of advice. When Zach came to Minnesota, one of the things he noticed was my calendar was a mess. I was calling here, I was calling there. Somebody said, you got an appointment tomorrow? You know what? I'll move things around. I'll be there. And Zach said, it's just, it's just not structured. So now we have 2 and a half days of the week that I go out on appointments. I'm consistently getting to that 4, 5 to 7 appointments a week. And after going through my metrics with Chris for the next 12 months, which we did at QLS, some of you may have seen it, the check that I received at QLS. For my family, it's life-changing, that one. And so we took a break. I asked Chris to please write on the back his signature, the date, and I gave him my goal in the next 12 months. Wasn't good enough. Chris said, no, we're going to push you further. You can do this. So my goal by QLS next year— all of you are hearing it, all of you online— um, is $1.1 million.

Some public accountability.

Yeah, great job.

Well deserved, Annette.

Thanks, Judy.

Uh, yeah, yeah, sold. Yeah. Rejected as she collected.

We hear about the office building sale.

Oh, she bought it. Yeah, bought the office building. And what was interesting was on terms one of the deals that she's working on right now, right? The seller, as Annette explained, was skeptical until he came to her office, and then all of a sudden he was like, "Oh, I'm open to these deals." That's a to imagine the one. Like the asset of being able to buy that office for her.

Like, you don't—

I don't even have an office.

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The office for her is, is a legitimate piece in a negotiation. Like, it's now the legitimacy when people come in.

Did you tell him? I didn't ask you. Did you tell Neville, right? Did you tell him you bought that on terms?

Yes, I did.

Yeah.

Right. Come in the building. You're not the only crazy person selling on terms.

Right.

It's instant credibility.