What interest rate does the speaker cite for seller-carry/hard-money income?

Steve D ValentineReal Estate Mentor

Get paid to own your own home! #realestate #money #tips #tipsandtricks #investing #realestateagent

30 Jul 2023 · 1 min

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Steve D Valentine gives practical real-estate advice aimed at families with older homeowners: assess whether the priority is cash or recurring income, and when appropriate use seller-carry (seller financing) to convert a free-and-clear home into a source of income. He cites converting homes into "8% hard money" via seller carry as a way to generate income for parents without withdrawing cash to invest in the stock market. The segment emphasizes understanding numbers, identifying the family's pain point, and structuring deals so the agent and family both benefit.

Questions this video answers

8% (described as "8% hard money" generated by seller carry).

Chapters

It's one of the greatest things that I do with older people when I go in and deal with their families. Trying to see do you need to create income or do you need the cash? And if you do get the cash, how are you going to grow the income to cover mom or dad's living? Right? Do you know how many sellers that I've turned their parents free and clear home into 8% hard money by doing seller carry? That's what it is. You know why? Because it generates income to take care of mom and dad and they don't have to take the cash out of the house and go do we put it in the stock market? Do we put it in something risky? So understanding numbers and how things work and again, finding the pain point, how can I help with this situation? In order for all of us to win, I get to build wealth. I'm going to make money on this property. We're going to generate income for you and we're going to solve. Right. Those tools are all available.