Seller financing success

[Andrew Hyder]

Looking for some insight on seller financing deals. What is the most effective way to find them? Facebook campaign, postcards, letters, etc. I’m just looking to see what other people are doing and finding success with using this RE strategy.

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Originally posted by @Andrew Hyder:

Looking for some insight on seller financing deals. What is the most effective way to find them? Facebook campaign, postcards, letters, etc. I’m just looking to see what other people are doing and finding success with using this RE strategy.

Sure, I did one in Mesa AZ. The underlying mortgage was $223,000 with a market value of $225,000 and a payment of $1217.

I gave the seller $100 and took over the loan Subject To. I paid my contractor $500 to clean up the property, I then sold it to a Tenant Buyer who gave me $25,000 option fee and pays me $1950 a month.

So far, I've gotten $25,000 cash for the option fee, plus about $700 a month for about $8,400 a year for 3 years (so far) so $25,2000 and he's paid down my principal about $12,000 plus I get depreciation plus he takes care of all repairs and maintenance.

So, on $600 I've gotten well over $62,200 (so far) on a "slim" deal that had no equity. I don't know what CoC or ROI that is, but it's pretty good.

You can do these deals from California to Maine & from Alaska to Florida. I do these for my California Turnkey buyers.