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Did you take time off from your job or put your career aspirations on hold to stay home and raise your children? Many of us sacrifice our incomes and career goals for a while to devote our attention to our families. Once our children are old enough, we want to return to the workplace — but obstacles may be standing in our way. Either our skills are rusty, we cannot command the income and status we previously did, need more flexible hours, or are no longer interested in doing the same work. Some of us find jobs, but they tend to be jobs below our skill sets and previous salaries. If you’re considering going back to work or finding a more enjoyable, better-paying career, real estate investing may be for you. Here’s why real estate investing works for stay-at-home and under-employed parents.
When we hear the term real estate investing, many of us think of those reality TV shows where the hosts and participants find fixer-upper homes. They renovate them into lovely new living spaces and then sell the homes for far more than they spent on the purchase and renovations. Or maybe you know someone who buys houses and then rents them out, earning a profit on the rent payments. These are a few of the better-known strategies, as well as short sales and wholesaling.
Owner financing is another lesser-known real estate investment strategy but typically offers the highest profit margins and a long-term, passive income. You can earn life-changing wealth without the hassles and costs of being a landlord or a fix-and-flipper.
Basically, instead of a bank loaning a homebuyer the money to buy a home, the homeowner (seller) lends the money through the existing mortgage. The buyer makes monthly payments, plus interest, to the investor. The investor earns an income from the interest until the buyer repays the loan, usually over 15 to 30 years. That interest adds up to thousands of dollars over several years, which is why owner financing typically earns the highest profit margins than any other real estate investment strategy. You’re probably thinking, “I can’t afford to buy a house I can sell to someone for monthly payments over several decades.”
The strategy we teach at Owner Finance Academy does not require investors to use their personal cash or take out loans. See our blog post, What Is Owner-financed Real Estate Investing?, to learn more.
One of the barriers to returning to work for many stay-at-home or under-employed parents is the need for a flexible schedule. Many still have children living with them who need care, so they want to avoid being locked into a hectic, traditional 8 a.m. to 6 p.m. work schedule. As a real estate investor, you have almost complete control over your schedule — you decide when to meet with sellers, buyers, attorneys and others. You can do most of the research and marketing work from home.
We call our strategy “prosperity with purpose” because we’re earning unimagined wealth by helping others! We only participate in transactions where all parties benefit — the seller, the buyer and the investor. Many real estate investors take advantage of desperate sellers and don’t pay them a fair price for their home (and they charge exorbitant interest rates to buyers). We typically pay sellers more than they would get in a traditional real estate transaction since they avoid costly fees and repairs.
Our sellers tend to be people facing challenging financial circumstances due to a job loss, illness or medical bills and can no longer afford to pay their mortgage. They may owe their lender more money than the home is worth and are trying to avoid a credit-shattering foreclosure. We help these sellers avoid financial ruin and buy their homes much faster than a traditional sale.
Our buyers are hard-working people who can’t qualify for an affordable bank loan. They tend to be self-employed, immigrants, recently divorced or have other circumstances that make it challenging to secure a loan, usually due to a lack of paperwork and credit history. We help these buyers realize their dream of homeownership.
Often, parents who choose to stay home to care for their families have excellent soft skills — skills such as listening, empathy, interpersonal, communication, time-management, negotiation and conflict resolution. Investors who possess soft skills like these are often the most successful ones because of their ability to build relationships with people. Buyers and sellers need empathy without judgment and trust that you have their best interests at heart — and soft skills enable you to do that. Most of our business comes from referrals, usually homebuyers we helped buy a home tell their friends and families we can be trusted.
When you attend our training program, you’ll come away equipped with what you need to know to get started in win-win, owner-financed real estate investing. You learn from actual investors who don’t just send you on your way with some materials once the seminar ends — we provide “on the job” training and mentorship for as long as you want. You’ll participate in real-life transactions with our investors as they buy and sell homes. We also offer ongoing support such as workshops, members-only Q & A sessions, hundreds of training videos, marketing materials, lead generation and skip tracing programs, contracts and other tools you can use after your training seminar ends.
We currently offer three training programs:
Fundamentals Program: A two-day introductory program
Professional Investor: A five-day in-depth boot camp/workshop
Partnership Path: One-on-one executive coaching and a pathway to becoming an Owner Finance Homes, LLC partner.
Check out one of our Information Sessions or enroll in a training program. Embark on your new profitable career and help others!