Need Seller Financing Mentor
Thank you for reading this, I appreciate it.
I don't have prior seller financing experience. I want to sell my fully furnished, high-end downtown Austin rental via seller financing. I'm looking for a mentor - I am happy to pay a fee - who will show me the optimal path, help me avoid the mistakes / pitfalls, refer me to a good attorney, title company and get me to closing as reliably and safely as is possible
Property: 2800 sq feet, 4/3.5, 2 miles from Downtown Austin, high end finishes
Sale price: 1.6 million (negotiable)
Down payment: $320,000 (negotiable)
Rate I am offering: 5.5% (negotiable)
Please DM me for further details of the property. Ideally, I would be working with Buyers only.
Thanks again
John,
Have you networked locally to find investor groups (Facebook, REIA, etc.) to be able to consistently have go-to advisors?
Mike
I feel like the skillset you are looking for is called "Seller's Agent" or "Listing Agent".
These are the people that will be able to tell you what the property will sell for, and how to get the best price. If you are willing to offer excellent seller-financing terms, then you should post this property on the MLS, and make this clear.
You will then still get interest from those who want to purchase this with a conventional, owner occupant, FHA, VA, or other financing, in addition to seller financing.
If you want to avoid the listing agent fee, at least interview listing agents as a consideration anyways and hear what they have to say.
I'm not aware of a "mentor" who teaches sellers how to use this tool, but every one of the folks discussed at length in the "guru, book, and course reviews" forum here on BP will be delighted to pitch you.
Typically, what you'll find are gurus teaching buyers how to do this. Those gurus will happily take your money as well, but are much more skilled (if they deliver) on adding value or perceived value to buyers, not sellers.
Quote from @Mike Grudzien:
John,
Have you networked locally to find investor groups (Facebook, REIA, etc.) to be able to consistently have go-to advisors?
Mike
Thank you Mike. Facebook, Yes. REIA (in person), No. I will chase these down.
Quote from @Scott Trench:Thank you Scott, for the detailed reply, the guidance and the caution. I appreciate it. I will think seriously about listing this on the MLS as suggested.
I feel like the skillset you are looking for is called "Seller's Agent" or "Listing Agent".
These are the people that will be able to tell you what the property will sell for, and how to get the best price. If you are willing to offer excellent seller-financing terms, then you should post this property on the MLS, and make this clear.
You will then still get interest from those who want to purchase this with a conventional, owner occupant, FHA, VA, or other financing, in addition to seller financing.
If you want to avoid the listing agent fee, at least interview listing agents as a consideration anyways and hear what they have to say.
I'm not aware of a "mentor" who teaches sellers how to use this tool, but every one of the folks discussed at length in the "guru, book, and course reviews" forum here on BP will be delighted to pitch you.
Typically, what you'll find are gurus teaching buyers how to do this. Those gurus will happily take your money as well, but are much more skilled (if they deliver) on adding value or perceived value to buyers, not sellers.
Hi John,
DM me. My mother is a broker in Austin. She's done several seller finance deals and I entertained selling my house in Kyle that way with her guidance, but ended up getting a conventional buyer.
Thanks
Jo
There are a few title companies/attorneys that specialize in this type of transaction. Hmu and I can guide you through the process. Its not as difficult as most folks think but there are some caveats that you will need to be made aware of for this endeavor.
Quote from @John Gonzalez:
Thank you for reading this, I appreciate it.
I don't have prior seller financing experience. I want to sell my fully furnished, high-end downtown Austin rental via seller financing. I'm looking for a mentor - I am happy to pay a fee - who will show me the optimal path, help me avoid the mistakes / pitfalls, refer me to a good attorney, title company and get me to closing as reliably and safely as is possible
Property: 2800 sq feet, 4/3.5, 2 miles from Downtown Austin, high end finishes
Sale price: 1.6 million (negotiable)
Down payment: $320,000 (negotiable)
Rate I am offering: 5.5% (negotiable)
Please DM me for further details of the property. Ideally, I would be working with Buyers only.
Thanks again
DM me if you are still looking for someone to assist you.