588: Is This BETTER Than Rentals?
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588: Is This BETTER Than Rentals?
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Narrated by:
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Owner financing turns a house into mailbox money, and Jack has built his entire one man portfolio around it instead of renting. He explains how a contract for deed actually works, from the 10 percent down payment that keeps a buyer invested to the single foreclosure he has filed in 20 years. He also walks through the four house package he just put under contract in Lancaster, South Carolina for $450,000 that appraised at over $700,000.
KEY TALKING POINTS:
0:00 - Becoming the Bank
1:49 - Early Rentals & Mobile Home Parks
3:36 - Four Deals in Lancaster
6:42 - Contract for Deed Explained
10:47 - Marketing Owner Financing
13:39 - Finding Deals with AI & Mail
15:55 - Financing with an Equity Line
17:35 - How Jack Got Started
20:56 - Backing Out & First Real Deal
23:47 - Foreclosure & State Differences
25:59 - Advice for Beginners
28:13 - Outro
LINKS:
Instagram: David Lecko
https://www.instagram.com/dlecko
Website: DealMachine
https://www.dealmachine.com/pod
Instagram: Ryan Haywood
https://www.instagram.com/heritage_home_investments
Website: Heritage Home Investments
https://www.heritagehomeinvestments.com/
