Seller/owner financing:pros & cons

2 Replies

I’m a bit confused on how to get a seller financing gig.

I am trying to take the “no money” approach since I’m lacking the funds, but have found 2 great deals where the owner wants to sell himself, and needs some slight cosmetic upgrades. They are asking a bit high for the property in my opinion, but would be totally cool with the asking price if i could do seller financing. How to approach SF, and how to execute?

Easiest way is to ask if the seller will offer it. Obviously the property has to be fully paid for the seller to offer this. If the deal is good and you cant afford it consider Wholesaleing it or find someone to JV with you. 

Best of luck in all your endeavors.  

You can explain you will give them their asking price if they are willing to finance 100% here are some options

You could offer full asking price in exchange for 100% owner financing structured in any way that works for you.

It could be straight payments till paid no interest example would be $200k purchase price and you pay $1500 per month until paid or whatever monthly payment works for the situation.

You could offer interest only with a 5/7/10 year balloon

Offer a 30 or 40 year amortized loan.