Off-market owner financing

[Carissa Mennen]

I have my eye on a 10-unit property and I want to ask the owner if he would sell it to me with owner financing. I currently own the building next door, and the owner of the 10-unit has mentioned (in passing) that he'd be interested in selling his building to me. 

What would be the best way to approach this conversation? I'd like to know what's in it for him so I can present him with an appealing deal. Would there be any tax benefits (or other benefits) to him if he did owner financing? Do people typically work with a broker for owner-financed deals, or is it typically just a private contract? 

We are newer to real estate investing, so any additional information on this subject or links to relevant podcast episodes/articles would be hugely appreciated!

[Steve Vaughan]

Quote from @Carissa Mennen:

I have my eye on a 10-unit property and I want to ask the owner if he would sell it to me with owner financing. 

 What would be the best way to approach this conversation? I'd like to know what's in it for him 

This has been my favorite and most successful strategy.  SF from long-time landlords I know, off-market.

I would start by casually planting the seed.  If you ever think of selling, please let me know.

When they do express an interest, the benefits to them are headache free cash flow that spreads out the tax burden.