You heard the phrase, Owner Financing, or possibly OWC (owner will carry) or SWC (seller will carry). So what does that mean? How it an advantage to me? Watch this video to see how you can take advantage of Owner Financing.
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Hi, Jay Massey here, with the CashFlowDiary.com and in this video I'm going to explain to you what owner financing really is in two minutes or less.
Now you've heard the phrase: “owner financing” or maybe you've heard the letters ”owc,” “owner will carry,” or “seller will carry” or all kinds of terms… you are like… what on earth does that mean? How is it an advantage to me?
Well owner financing is very simple it just simply means instead of going to a third-party i.e. someone else the person who currently owns the asset will provide you as the buyer the financing required to facilitate or otherwise known as complete the sale.
So in a transaction you've got you, over here and then you've got the seller over here. And instead of going to a bank, the transaction occurs one hundred percent right here.
You end up giving some cash and they give you what is known as a note or you give them what is known as a note and agree to make some payments every month, and whatever it is that you're buying this could be with a car that's good obvious be jewelry, this could be for services. There are many different things that you can quote unquote owner finance.
It’s just the way of making sure that if you don't have one hundred percent of the cash today. You can still gain control over the asset right now so long as the seller is willing to accept payments again over time.
Using strategies like this allows you to gain more assets faster and as the seller and often allows you to have many different tax advantages and defer things like capital games etc. but of course you would need to check with your competent keyword tax professional to make sure that that's the case.
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