Finding Owner Financing in New Jersey

7 Replies

Hello BP Members,

I am currently at a stand still in my RE Investing. My husband and I have one buy and hold out-of-state. We purchase it all cash and now would like to finance our next investment. I tried to obtain a traditional loan, but since I always paid cash for the past 15 years, my credit report has no activity. So, last year, I opened a secured credit card with a large amount, but still was told I need to obtain more credit. Now that I have tried to apply for credit (for myself and for my business) and allowed mortgage companies to view my credit report, these inquiries are bring down my good credit score. I have to come to terms with needing to obtain credit, because I don't like to owe. I lived by the motto "have cash buy, no cash don't buy." Now that we are trying to build our REI business, that motto isn't working well. I have to come to terms with the motto of "Good Debit."

I would like to look into owner financing options in the state of NJ.  Can someone guide me on how to find owner financing options? 

Thank you in advance.


@Dana N. Hi Dana. Do you have access to the MLS? If you do, under terms accepted, click the seller/owner financing box. Then continue filtering out properties that meet your criteria, and when you view results, only the properties that are open to seller financing will appear.

If you don't have access to the MLS, perhaps an agent could assist you. Just ask the agent to filter the search by finding properties open to seller financing.

@Dana N. I'm not really sure how to go about specifically searching for owner financing, I have seen them in listing information and perhaps there's a way to search the MLS for owner financing? Others may have a more systematic approach. Good luck with the search!

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Hi Angelo B, Ceril S., and Brian G.,

Thank you all for responding to my post.  I truly appreciate your advice and help.  I will check with the Realtor I contacted in New Jersey to see if he has a listing of Seller/Owner financing properties.

Thanks again.

Dana N.

It may sound old-school, but IMO seller financing opportunities aren't found.  Rather they are created.  You don't look for seller financing.  You make offers that include seller financing.  Sellers with market-ready retail priced properties in a seller's market aren't likely to bite.  But there are plenty of properties and situations where seller financing makes sense for the seller. Call FSBOs and craigslist ads and start making offers directly to sellers.  Do some direct marketing to a particular property distress.  Code compliance or tax defaults, for example.  Until you have more experience I'd stay away from pre foreclosure props.  They can make good seller financing deals, but there are a lot of moving parts and some risk when taking over payments on a property with a mortgage in default.

Read/study up on motivated sellers and see what makes sense for your area/market.