Rental Property Investor · Jacksonville, FL · Member since 2015 · 342 posts · 142 votes
Whats up everyone,
It's almost 1am and I can't sleep. I'm looking for any owner financing deals that are available. I have funds available for a great down payment so I'm just looking for anyone who can point me in the right direction.
Investor · Juneau, AK · Member since 2015 · 980 posts · 741 votes
10y
Good topic. The owner financed deals just don't seem to pop up much in normal active markets...at least in the real estate ads and mls.
I have offered a few in my town, but except for raw land, I almost never see anyone else do it. I actually prefer to sell that way to capture the interest income, too (seen the bank profits lately on CNBC)...
It could be fewer people have the sophistication, and unless paid for, the deal may have some hair on it (some folks post on the subject to and wraps and such on BP).
I did enjoy Jay P. Decima's latest book Real Estate Fisherman and how he found these. He literally found them walking the streets. He would look for extra mailboxes and power lines to find multifamilies (his niche) and park out front and start taking notes. Often, the owners would come right over... And he had a lead! He also did the property record work, looking for older and out of town buyers, people most apt to want out...
Don't want to steal the thunder from that book, but I like his scripts that he was able to turn into profitable owner financed deals....a good example of how you often have to make these types of deals happen, create them, rather than click an online link, or call a realtor... Best of luck.
Rental Property Investor · Jacksonville, FL · Member since 2015 · 342 posts · 142 votes
10y
Thanks everyone! Yeah, I literally drive around and call houses to try and get leads. I'll continue to use both bigger pockets and building relationships with home sellers. Thanks again!!
Rental Property Investor · Jacksonville, FL · Member since 2008 · 784 posts · 528 votes
7y
The best deals are the ones that are never in MLS. @Joey Hamaoui I've had 2 deals presented to me with owner financing recently, the numbers did not work for me, 6-7 cap on one and 8 cap on another, I want 10 or more, so I am waiting, but in each, the current owners were willing to hold 10% of the PP for 2 years.