Seller Financing help

[Daniel Dass]

Hello,

I am a young investor looking to get knowledge on how to utilize seller financing to obtaining 2nd rental property.

I bought 1 single family home in Tilbury, Ontario in 2021 and it is not cashflowing AND not able to sell right now as locked in mortgage until 2027.

I do have some cash, but not enough for a 2nd property, and I seen plenty of off market seller financing - but I just don't understand the whole seller financing business to obtain. I watched videos, but there is only so much I can watch.

Hoping someone can lead me in the right direction !

[Chris Seveney]

Quote from @Daniel Dass:

Hello,

I am a young investor looking to get knowledge on how to utilize seller financing to obtaining 2nd rental property.

I bought 1 single family home in Tilbury, Ontario in 2021 and it is not cashflowing AND not able to sell right now as locked in mortgage until 2027.

I do have some cash, but not enough for a 2nd property, and I seen plenty of off market seller financing - but I just don't understand the whole seller financing business to obtain. I watched videos, but there is only so much I can watch.

Hoping someone can lead me in the right direction !

 You are over complicating it. You are borrowing money, whether it be from a bank, your brother or the seller. You want to get the best loan you can. That should be your focus.

Personally if you have one mortgage already that is negative cashflow I would be hesitant to buy rright now, especially in canada where from reports their housing situation for pricing is far worse than the US on affordability and just like US, people think prices can only go in one direction but reality is they are moving in the opposite direction.