All Forum Posts by: Eric Benzenhoefer

Sure thing, PM me and I will refer you to someone in that area.

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My answer below is based on a limited amount of experience and market logic.  So please take it for what it is worth.

Is a buyers market, the floor is the limit on seller financing. I had a friend in Ohio who negotiated a 0% rate on a package of SFH rentals (Zero down too). Why? Because the seller was motivated to sell and needed someone who could take care of his 20-50 properties long enough to pay off the loan. There were no cash offers. Since my friend was the only buyer, he could set the terms.

In a seller's market, a seller should only finance to a person who cannot qualify for other financing, and they should collect a high rate to do it as it is the buyer who is motivated.  My partner and I offered 12% owner financing on our property because we wanted to be cashed out.  We ended up getting a offer for a bit less, but it cashed us out of the deal.  So we took it. 

The short answer is that you can always negotiate any terms that are accepted, but it is logical that you get cheaper rates in an neutral to buyer's market.

@Jared K., would you say that you are in a seller's or buyer's market?

Other BP'ers with more experience, please feel free to correct my conclusions.

Easier as in general rates? And if not, could you expand a bit on what you mean by easier?

Flat fee listing are when you pay a flat amount (<$1000) to get your property on the retail market place. This is opposed to the 1-3% list fee that is paid to a realtor. There are pro's and con's

This podcast describes the "WholeTail Stradegy" - the guest is who I was reffering to - https://www.biggerpockets.com/renewsblog/2014/07/0...

My thinking...."motivated buyer"= highest offer = MLS. Have you concidered closing on the properties and doing a Flat fee MLS listing? This is the strategy of the Yellow Letters guy.

also this podcast has a topic on typical rates for HML

https://www.biggerpockets.com/renewsblog/2013/03/14/hard-money-lending-ann-bellamy/

Here is a good place to start - you could make some calls and then post what you find, then some people in your area could give you feedback to see if it how they compare to other lenders in the area - https://www.biggerpockets.com/hardmoneylenders/mas...

But first, you can check out this post which talks about how to interview lenders https://www.biggerpockets.com/forums/49/topics/263...

This is worth bumping, @Nick Larsen, have you made some calls and refined your questions?

Why not do it all with the HML?