Episode 111: Mitch Stephen on Owner Financing

In this episode, David interviews Mitch Stephen an Investor in San Antonio Texas. Mitch specializes in Owner Financing and selling houses on owner financing terms. Mitch borrows money from private investors at 8, 9, or even 10% and then uses those funds to go buy properties at a discount. Once he acquires properties he rarely fixes them up, instead, he sells them to other investors or owner-occupants that are handy and can fix these properties up themselves. He sells these houses on 20 and even 30 years terms and basically offers a mortgage to someone that might not otherwise be able to qualify. (wrap around mortgages) His mortgage rates are 12-16% on the selling side. The best part about how Mitch operates is that he gets all of his loans from his lenders on non-recourse terms. Mitch is the man when it comes to owner financing so if you want to learn more about owner financing then you need to check this episode out now!