Just use the straightforward approach and don't play games. Ask them, "I am looking to purchase a multi-family property with seller financing. Is this something you would consider?".
Simple, and gets right to the point. It's a numbers game- you'll have to ask lots of sellers that question before you get to "yes". Then you just comb through the list of willing sellers to find the properties you are interested in and make some offers.
Just use the straightforward approach and don't play games. Ask them, "I am looking to purchase a multi-family property with seller financing. Is this something you would consider?".
Simple, and gets right to the point. It's a numbers game- you'll have to ask lots of sellers that question before you get to "yes". Then you just comb through the list of willing sellers to find the properties you are interested in and make some offers.
oddproperties is spot on with their advice. Don't over think it. You are asking for a purchase that less sellers are willing to entertain, so that means you just have to ask more people. Don't fall in love with the property, fall in love with the terms of the deal.
Seller financing is becoming more and more common. I have bought several properties in the last few months with seller financing, most of which cost me less than $2500 as a down payment, and all of which are positive cash flow when I bought them.
Sellers and buyers each have different motivations. Never make the sellers decision for them in your head. Let them tell you yes or no.
Manuel,
Just put in your offer/terms on the property and do it with confidence and yes after I'm sure several discussions with your seller.
Every situation is different and if the seller is having problems managing the property and does not wish to sell outright you may be able to partner with him if you have a way to make it cash flow or market it better etc.
If he wishes to sell and they all do then you can offer full price if you get the right terms for example,so you need to learn to negotiate that part.
Just remember you may not buy it but your associate or partner may so you need to show the seller you have many exit strategies to move his property to the right buyer.
You also need to show that you know what you are doing and that he will get paid each month on your seller financed arrangement until such time a buyer comes in with their permanent financing.
The idea is to protect his interest as well not just your own so the seller knows it will be a win/win transaction.
There are many ways you can structure seller financing on a case by case basis.
What is the property condition the rent rolls if commercial then the CAP rate, maintenance costs and so on. Are they currently rented with positive cash flow or are there vacancies..?? you get the idea.
Multi families when done right can cash flow for you.
You need solid numbers to analyze this to see all the numbers to make sure it works based on your debt/financing i.e avoiding negative cash flows..etc.
If you a real new to this I would partner with an seasoned investor who can walk you through the offer and how to best structure it.
Feel free to call or email me if I can help further.