Seller financing- how to make deals work

[Elijah H.]

Hello BiggerPockets!

My wife and I ran numbers on an interesting seller financing deal for two separate multi-family properties being sold together, for a total of 8 units.

The properties are in an area with low rents, and the asking price seemed a little high to us. After running the numbers, we realized we would need to be asking about half of the listing price for it to be worth it.

We know the strategy of “analyze 100, offer on 10, and buy 1” but we were just curious to hear what others had to say on how you would approach making such a lowball offer to a seller. What is proper etiquette? We’ve heard on the podcasts how you should really get to know the seller when attempting seller financing, but we also don’t want to waste anyone’s time.

Any tips or pointers would be appreciated! We are having fun practicing our numbers!

Thanks in advance!

Elijah & Isabel

[Ron Flatt]

Folks, 
This is a way I can sell properties, for a premium, that may not qualify for a conventional mortgage.  I have bought several properties very cheaply, that were not what I wanted to fix up.  I just sell them owner finance, get a great chunk down and above market rate interest and let them get started.  If you can, I would recommend getting other financing and offer what you think they are worth.  
I am not saying you cannot get good deals on owner finance, I have myself.  But I have unloaded some dogs, that I did not want, that I still made a great profit on.  Still getting payments on some.