Dallas-Fort Worth Real Estate Investor Club

Landlord Owner Financing Business

  • 10 May 2021 11:55 AM
    Message # 10460991
    Deleted user

    Howdy all,

    My most recent deal was a home run mortgage note origination.  We were able to produce a high ROI!  I learned that I really enjoy originating notes and thought my services could prove profitable to other investors.

    I would like to start a full-service business where I help landlords convert their rental properties into low-effort and profitable notes.  My company would essentially do everything for the landlord: paperwork, finding the buyer, rigorously vetting the buyer, payment setup, and anything else that comes with owner financing.  Owner financing is very work front-loaded, so we would be doing all the hard work for the landlord.  This is a business model that I could very easily set up and get running.

    Despite the upsides of conventional rental property investing, there are several massive advantages of converting rental properties to notes.

    I'd like to know if this is something y'all think I could pursue with my company?  Does anyone know a landlord that would convert their property to an originated notes?  Would this be a viable business model?


    Best regards,

    Kevin

  • 10 May 2021 5:04 PM
    Reply # 10462655 on 10460991
    Robin Carriger (Administrator)

    Hey Kevin,

    Could you give us a list of specific services that would be included in your business of converting rentals to owner-financed notes?

    Thanks,

    Robin Carriger
    President
    DFW REI Club
    (817) 300-1132
    Robin@DFWREIClub.com
  • 11 May 2021 9:08 AM
    Reply # 10467288 on 10460991

    Kevin,

    What is a good phone number for you so I can give you a ring?

    Thanks,

    Taylor Weakley

    817-939-9436 cell
    taylorweakley@yahoo.com
    EmeraldDolphinEnterprises.com


    Last modified: 11 May 2021 9:11 AM | Taylor Weakley
  • 11 May 2021 2:15 PM
    Reply # 10468921 on 10462655
    Deleted user
    Robin Carriger wrote:

    Hey Kevin,

    Could you give us a list of specific services that would be included in your business of converting rentals to owner-financed notes?

    Thanks,

    Robin Carriger

    President
    DFW REI Club
    (817) 300-1132
    Robin@DFWREIClub.com


    Howdy Robin, long time no see!


    Services would include...

    Onboarding - Walking landlords through the process to ensure total understanding on both ends as well as making sure note origination is in the landlord's best financial interest.  We would sign PPMs and whatnot here to CBOA (Cover Both Our Asses).

    Paperwork - Deeds, notes, deeds of trust, mortgages, allonges, owner financing packages, and anything special to the situation that comes up

    Buyer/Borrower Sourcing - We would do all the work and partner with local agents to market for, find,  and vet highly qualified borrowers.  We would be able to find qualified borrowers willing to pay high interest rates to buy their new home.  Vetting would use RMLO qualification metrics to ensure high quality borrowers are placed into the home.

    Servicing Setup - After the sale and paperwork is complete, we'd be able to easily setup an extremely low hassle and minimum effort payment servicing to where all y'all would have to worry about is checking your bank account once a month.

    Additional Services - I was also thinking about including some sort forclosure insurance in the plan so clients would have zero worry about their financial stability in the investment.  This would mean we cover all costs in the case that the homeowner defaults (which is rare when originating notes).

  • 11 May 2021 2:17 PM
    Reply # 10468922 on 10467288
    Deleted user
    Taylor Weakley wrote:

    Kevin,

    What is a good phone number for you so I can give you a ring?

    Thanks,

    Taylor Weakley

    817-939-9436 cell
    taylorweakley@yahoo.com
    EmeraldDolphinEnterprises.com


    Howdy Taylor,

    We've met before at a meeting!  It was a pleasure talking with you and your Dad those few times we met.

    My phone number is (214) 906-1998 and email is Kevin@KhoodyCo.com

    I'm graduating from A&M tomorrow and Commissioning into the US Air Force on Friday, so I will be rather busy this week.  I will be available to talk next week.  I'll be expecting a call from you!

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