Family Friend Offered Seller-Financing

Family Friend Offered Seller-Financing

Member since 2022 · 2 posts · 1 vote

Hello BP community! 

My name is Evan and I am a 22 year old looking to get into investing in real estate. I’m in the beginning stages of my journey, and learning the ropes. 

I had a family friend offer me something very interesting the other day. She offered to seller finance the house she is selling (2 bed, 2 bath) listed for 285k right now. 

I’m just curious if this is a good route to take for my first deal? I know I will have to run proper numbers, but is seller financing a good starter option? 

Thank you! 

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @Evan Zukal:

    It's a great option! I've done a few myself and was able to negotiate a lower down payment and lower rates than what the bank required. No appraisal necessary, less paperwork.

    Here's a BP podcast where a kid bought 81 units, starting out with no money down and seller financing: 

    The DIY Landlord Book4.7248 Reviews
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