@Francois Turgeon Call the owner and ask if they considered selling and would like to hear an offer for the property. Gather the information from them, and then let me know you need 48 hours to put a few options together so they can choose which option sounds best to them.
To calculate seller financing:
1. Start with the rent that you would collect.
2. Subtract out all the expenses (not the mortgage).
3. What's left is you can pay the owner (monthly) and your cash flow.
4. Start playing with terms 1~30 yrs, interest rates, down payments.
5. Try to offer 3 options to the seller (cash/hard money), short term (1~3 yrs), and longer term (4~30 yrs). The longer the term, you should be able to offer more $.
@Francois Turgeon financing can be figured out after you get off the phone, the key here ia to call and strike up a conversation.
Just ask questions and do NOT give an offer on the first call. You need to take all the info back and put together an offer.
This will not come off shady or flakey to an investor, they understand the game and get calls like yours regularly. But typically nobody calls them back after “putting together an offer”
Try to stand out from other tire kickers as a true investor ready to pull the trigger... (because you are!)