Finding assumable loan, seller financing, and subject to sellers/deals
Hi, does anyone has recommendations about finding an assumable loan, seller financing, and subject to sellers? How to talk to the listing agents? And how to structure a win win deal in Orlando, FL, and Anaheim, CA? Thanks,
@Mark Nguyen you can search for assumable and seller financed deals in the MLS in Florida. Honestly, most agents never have a conversation with their seller about accepting those types of terms because they are not taught about them don't understand them.
You might be better off working with wholesalers as they will usually have the conversation around that as the sellers are generally more motivated by a life event and have a greater need to sell.
Network at your local REIA, buy lists of out of state owners, pre foreclosure, probate etc and contact homeowners directly. Structuring a deal will be different for each and every deal based on the needs of the seller, there is no cookie cutter way to structure.
Best of luck
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
- 5,506
- Votes |
- 9,861
- Posts
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
You don’t want to assume loans. Pace Morby is a good resource for creative finance.
Quote from @Shawn McCormick:
@Mark Nguyen you can search for assumable and seller financed deals in the MLS in Florida. Honestly, most agents never have a conversation with their seller about accepting those types of terms because they are not taught about them don't understand them.
You might be better off working with wholesalers as they will usually have the conversation around that as the sellers are generally more motivated by a life event and have a greater need to sell.
Network at your local REIA, buy lists of out of state owners, pre foreclosure, probate etc and contact homeowners directly. Structuring a deal will be different for each and every deal based on the needs of the seller, there is no cookie cutter way to structure.
Best of luck
@Shawn McCormick, thank you for your reply. Sounds like I need to connect with a real estate investor agent. Do you work with investors?
I will also reach out to wholesalers after I am more familiar with these financing structures and will ask CFRI members in my REIA network.
Quote from @Eliott Elias:
You don’t want to assume loans. Pace Morby is a good resource for creative finance.
@Eliott Elias, thanks for the suggestion. I ordered his book.