If you’ve ever wondered how seller financing works, today’s episode is for you. New lender Ricky Accardo is here to share how he negotiated two seller financed deals on his real estate properties!
On this episode of Investing in Real Estate, Ricky details how he got his start in real estate, and sheds light on his experience working with a private lender. We’re also chatting about investing strategies, and how he plans to grow his portfolio.
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Real estate investing has always fascinated Ricky, but as a husband, father, and a full-time oil refinery worker, he has his hands full. However, his perspective changed when he read the book Rich Dad Poor Dad.
He realized that buy and hold investing could be life changing, and he wanted to build legacy wealth for his family. He persuaded his wife, and they immediately began searching for properties in their area.
They quickly discovered a town home that was for sale by owner. When they viewed the home, they discussed how the owner wanted to finance, and that’s when Ricky was informed about seller financing.
Although this was a new concept to him, the numbers seemed to make sense. This situation has worked out beneficially in many ways. This seller is a well-versed investor, and has become a mentor for Ricky and his wife on their investing journey.
Because he had such a great experience with his first property, Ricky decided to finance another home with this same private lender. On today’s show, he’s sharing the two different ways he came up with down payments. He’s also sharing the exact lending terms for his properties.
Ricky also elaborates on how to secure a private note, and the importance of being organized with private lenders. As well, we’re talking about what it’s like to face your investing fears, and how you can get started achieving financial freedom.
We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- Why seller financing is beneficial for both parties.
- How the Freedom Cheat Sheet changed Ricky’s perspective.
- How to calculate your return on investment.
- A discussion structuring private financing.
- And much more about real estate investing!