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If you've ever sold land with seller financing, and if you've taken the approach of not pulling credit reports or investigating the borrower's ability to repay (i.e., loan underwriting), you're probably familiar with the disappointment of a borrower who stops paying and leaves you to pick up the pieces.

What if there was a better way to create a more predictable income stream from each property you sold with owner financing?

There is! And the process is surprisingly easy, especially if you enlist the help of a residential mortgage loan originator (RMLO).

In this episode, I'm talking with Max Bailey from CalltheUnderwriter.com to discuss the “how” and the “why” of using an RMLO. After hearing the rationale behind this kind of service, you may ask why you wouldn't use this for every seller-financed property you sell in the future!

Links and Resources

Key Takeaways

In this episode, you will:

  • Learn why underwriting borrowers is crucial for long-term success in seller financing, even for vacant land deals.
  • Discover how underwriting requirements differ between owner-occupied properties and non-owner-occupied investments like vacant land.
  • Understand the importance of examining a borrower's past performance as an indicator of future behavior in loan repayment.
  • Gain insight into customizing underwriting criteria for vacant land deals based on specific investor needs and risk tolerance.
  • Explore the value of manual underwriting in assessing borrowers who may not meet traditional bank lending criteria but could still be good risks.


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About the author

Seth Williams is the Founder of REtipster.com - an online community that offers real-world guidance for real estate investors.

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