The Secret Sauce to 6 out of 9 Seller Financing Deals, four with 0% down

[Logan M.]

Don't overcomplicate seller financing.

In a conversation with my Mobiel Home Mover, I told him I got another Manufactured Home Community under contract with seller financing and 0% down. He replied, "I don't know how you keep finding sellers willing to do that".

Here is the secret sauce, know and understand the seller's motivation, ask questions, and don't be afraid to ask for the terms you want.

It is more common in medium-sized multifamily where it is a business but not large enough to be professionally managed. The owners are feeling pain from their property it could be the children who inherited the property, poor management leading to deferred maintenance, vacancies, and many other inefficiencies.

Most owners in this spot are looking for a way to end the pain they are feeling and many will take a path that solves their problems and gives them something in return to justify the sale. I have never bought a property for nothing but I was able to get many many communities with nothing down and great seller financing terms.

Listen to the seller, find out what their motivation is, their pain point then present them with a solution and see where it goes, when the terms make sense have the guts to move forward.

[Logan M.]

Quote from @Scott Mac:

So you are buying without writing a check of any kind other than maybe Earnest money.

Zero down- no cash kicker- great job- impressive.

Are you assuming any loans; or are you letting them continue to pay any loans they have on it and you just pay them?

You are going to become the Utah trailer king.

Good Luck!

 I am having them continue paying their underlying loans in some cases. We are going to own 50 communities over the next few years and now with 9 it is starting to look really real!