Seller Financing / How to find high equity owners

[Drew Berman]

Hey BP Fam,

Seeking guidance! Purchased two buildings in past 6 months (duplex / 5 unit) Have greatly depleted my working capital.  Currently seeking seller financing opportunities mainly through my realtor (incentivized with higher commission for deals I would otherwise not be exposed to) .   Wondering what sources others have used to find creative financing opportunities, and actively pursue this specific type of owners.  

Appreciate you all!

[Nathan Gesner]

Quote from @Drew Berman:

Hey BP Fam,

Seeking guidance! Purchased two buildings in past 6 months (duplex / 5 unit) Have greatly depleted my working capital.  Currently seeking seller financing opportunities mainly through my realtor (incentivized with higher commission for deals I would otherwise not be exposed to) .   Wondering what sources others have used to find creative financing opportunities, and actively pursue this specific type of owners.  

Appreciate you all!

 Direct mail marketing or cold calling. Some call it "driving for dollars" but it's all the same: cast a wide net looking for motivated sellers with high equity. I wanted to buy a storage unit last year, so I just called every storage facility I could find to see if anyone was interested in selling. One of them called me back six months later, we struck a deal, and the rest is history. Drive around neighborhoods and look for properties that interest you. Many will look for neglected properties because it shows the Landlord may be tired of dealing with it and ready to move on. Direct mail requires an even wider net and you typically have to mail many times, sometimes for years, before you get a response.

Even properties that are on the MLS may be willing to consider owner financing. A recent podcast had a 21-year-old with 82 units, all owner financed, all at market rates, and I believe they were all on the MLS.