AMA (Ask Meyer Anything): Seller Financing, A Better "BRRRR", & Do You Need an LLC?
Description
When is seller financing worth it (as a buyer AND a seller)? Do you need an LLC to start investing in real estate, and will it help you buy more deals? Can you BRRRR (buy, rehab, rent, refinance, repeat) your primary residence to realize some serious home equity gains? We’re getting into these topics and more as we answer YOUR questions from the BiggerPockets Forums.
First, a seller has been presented with an interesting seller finance offer. Should they take it? How do they vet the buyer before giving them the house in exchange for monthly payments? We’ll explain when seller financing makes sense for sellers and how buyers can create compelling offers. Next, do one-bed, one-bath rentals do well, or are they too small for most areas?
How can you use your primary residence to build wealth without renting to tenants? We’re talking about the new BRRRR, or as Dave calls it, the LIFLOC (we’ll describe it in detail!). Do you need an LLC to invest? Most new investors get this totally wrong. Finally, why do investors and agents think so poorly of wholesalers? Do we ever use them? And how do you tell a good one from a bad one?
Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!
In This Episode We Cover:
Whether or not you should accept a seller finance offer on your house vs. a loan or cash
Why we LOVE small rental properties (one bed, one bath) even though most investors avoid them
Using the “BRRRR” method to turn your primary residence into a wealth-building property
LLCs for real estate, when you need one, and whether they’ll help you buy more deals
Working with real estate wholesalers and the legitimate reason why so many investors/agents avoid them
And So Much More!
Links from the Show
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Ask Your Question on the BiggerPockets Forums
Invest in High-ROI Turnkey Rentals with Rent to Retirement
Find an Investor-Friendly Agent in Your Area
What Is Seller Financing in Real Estate?
(00:00 ) Intro
(00:54 ) Should I Seller Finance?
(07:38 ) Buy 1 Bed/1 Bath Rentals?
(12:51 ) Best Home Investment Ever?
(18:21 ) Do I Need an LLC?
(22:51 ) Working with Wholesalers
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1057
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