Seller Financing Advice for a New Investor
Hi, My name is Tucker Cummings & I'm based out of Raleigh, NC and investing in the Fayetteville, NC area. I just bought my first property in December using a 30 year, conventional loan with 20% down. While that was great, I'm hoping to find and finance more seller-financed opportunities. I don't know where to get started and am hoping investors in here might be able to help me.
- I've heard on several podcasts that people download public records to find properties that are owned in full by the owner, making them good candidates for seller-financing options. Is this a free or paid service? Recommendations on services to use and how to use them?
- Other recommendations on how to find outright owned properties?
- I've heard on these same podcasts that they start out by doing a postcard/letter to purchase. Any other recommendations on outreach?
- What kind of terms do you offer?
- How can I get a contract drafted for both parties? Where do I go to have that reviewed?
- Do seller financing options work if you're not going to do a BRRRR strategy?
I'm sure myself and others will have several more questions, but hopefully this will get the discussion going. I'm also very open to phone conversations as well, so feel free to shoot me a direct message and maybe we can schedule a time to connect.
Looking forward to networking with the community!