Stock market vulnerability and low interest rates have set the housing market sizzling in a large portion of the US. With borrowers flooding moneylenders to exploit those low rates, and current economic financial struggle while directly following the pandemic, numerous banks have fixed their lending policies.
Which has left numerous homebuyers and real estate investors battling to track down funding. Yet, do you need to go through a bank or a traditional lender?
Enter: owner financing.
In this episode Kimberly Kesterke shares how owner financing could replace the first mortgage entirely, cutting the bank out of the equation and helping more people get their own homes through private sector. Come join us and listen in!
Kimberly Kesterke is the founder of The W2 Landlord Community- and has over 15 years of experience managing her rental portfolio from a distance. At the age of 26, Kimberly found herself as an “accidental landlord”. She was $30,000 underwater on her home due to the economic crash and was relocated 3 hours away for her job. Over the past 15 years, Kimberly built a six figure cash flowing portfolio- all from managing properties from a distance.
[00:01 - 00:44]• We welcome Kimberly Kesterke to the show
[00:45 - 02:27]• Kimberly Kesterke's background how he started investing in real estate.
[02:35 - 04:33]• What she did after experiencing a loss and how she kept going from there?
[07:27 - 12:38]
• The whole process on why did she moved to "Owner Financing" and how she got confident with owner financing as her strategy?
• BIG REVEAL on the property that she got for $18,000 and went into owner financing, . . . • How much did it sold for, and the interest rates from it?
[12:49 - 16:35]
• For how long would she continue this strategy or will she go back to the traditional methods?
• What kind of due diligence does she run since the buyers can't qualify for a traditional loan?
[17:25 - 19:54]
• Her recommendation for somebody who wants to start getting into owner financing?
• For her what is next phase for this kind of strategy?
[23:19 - 31:54]•Closing Segment
• Asking Kimberly Kesterke the Adventurous Four
Tweetable Quotes:
"I think a lot of people get stuck on the fact that there's only one way to do it. And then they think, oh, this isn't for me. This is too hard. I don't have enough. This, I don't have enough that, but if you really break down all the different strategies out there, there's something for everybody and they just have to educate themselves on the different strategies out there."
- Kimberly Kesterke
Connect with Kimberly Kesterke
www.thew2landlord.com
www.facebook.com/groups/w2investors
Facebook - Instagram - Twitter @W2Landlord
Explore more. Adventure awaits.
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