Seller financing, but not for investors?

Seller financing, but not for investors?

Professional · Seattle, WA · Member since 2014 · 25 posts · 1 vote
BP, We are looking at buying a single family home available with seller financing. We would hold it as a rental property, which is what it has been in the past. The owner has not had good experiences with tenants and does not want to offer financing/sell to an investor since he will still be tied to a rental situation through this financing. He wants to sell to an owner/occupant. We are trying to come up with ideas to convince him it will be a great situation. We are professional property managers, we have a long successful history of buy and hold investing, we have great credit and sufficient income. What else should we be communicating to the seller? How do we convince him to sell to an investor? If we have to give on something, should we give on the interest rate? Down payment? Purchase price? What else? Thanks in advance for your comments!
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Real Estate Agent · Buena Park, CA · Member since 2016 · 743 posts · 424 votes
10y

Tell them to give you the seller financing you desire for the best price and highest interest rate you will accept and then sell the note to a note investor to remove them from the property entirely.

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  • Real Estate Agent · Buena Park, CA · Member since 2016 · 743 posts · 424 votes
    10y

    Tell them to give you the seller financing you desire for the best price and highest interest rate you will accept and then sell the note to a note investor to remove them from the property entirely.

  • Investor · Coral Springs, FL · Member since 2016 · 2 posts · 1 vote
    10y

    Hi Tim,

    I think the opportunity lays on his pain point "has not had good experiences with tenants" maybe if you offer security an assurance in this area he will go for it.

    It think this would work on me and more so if it was written on paper. I hope this helps. Good luck.

  • Raleigh, NC · Member since 2015 · 30 posts · 14 votes
    10y

    you have to distinguish the difference between your deal and continuing to be a landlord. If you do this effectively and the the owner does not buy in, then the owner has something else that isn't bro revealed- perhaps down payment + default recovery of property. 

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