Storage Wins EP008: Erik Stark – Getting a Grip on Owner Finance and Deal Structure Part 1
Erik Stark, full-time entrepreneur and real estate investor, has bought and sold over 400+ properties with his business partner, Steve Mills. Erik has trained with, learned from, shared stages and coached for the biggest names in the personal development and real estate niche. Today, he sits down with Alex and goes into great detail on how he structures his deal flow. No way could Erik share all these golden nuggets in one sitting, so come back next week for part two of the interview.
Key Takeaways:
• This interview is going to be broken up in two parts.
• Erik and his partner Steve have been in the real estate industry for the last 11 years.
• Let's talk marketing and deal structure.
• Grab a pen and paper!
• Erik shares a case study on a particular property.
• What is 'owner finance' and 'carrying a note'?
• What's the seller's why? What's their main motivation for selling the property?
• There are so many moving parts to multiple deals, but don't feel overwhelmed.
• How does Erik explain what owner finance is to the sellers?
• Get educated on owner finance and cover the basics of a real estate transaction.
• Every single lender wants to have trust, security, and collateral.
• What's the one piece of advice Erik has for those struggling out there? Work a strategy and stop chasing opportunities.
Mentioned in This Episode:
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