RE agents and non-conventional Financing

[Zach Adams]

What has been your experience with residential RE agents in regards to investors and non-conventional financing methods? Mostly seller financing, as this is what I'm interested in down the road. To me seller financing seems like one of the best ways to accumulate SFRs. Are RE agents motivated to find and close Seller financing deals versus conventional bank deals? Is their commission less? How do you work agents into these deals? Where do RE agents fall on your lead generation list when you're maxed out on conv bank financing (I think 4)? Just trying to learn more about where RE agents fall in my lead generation techniques. Currently have 1 SFR and closing on my second April 30th, both conventional bank financing. Thanks Zach

[Franklin Romine]

@Zach Adams

The majority of agents won't hunt around looking to deliver you seller financed properties. All of the seller financed properties I have accumulated were on the MLS, not advertised as seller carry, 90+ days on the market and free and clear. I'm a licensed agent but I usually use the listing agent to represent me. It gives them more of a incentive to close the deal. I don't throw the seller financing at the owner until I gather my intel about the property and seller. I keep irons in the fire with many MLS properties keeping ongoing communication with the listing agent about the property status and seller. When sellers are selling a property, typically elderly or properties in a trust that have multiple siblings, I find there is a tremendous amount of mental pressure on the seller(s) to move the property. Over time there best option to get the golden sales price they wanted turns into the seller carry option. I'm not afraid to over pay for a property if the terms pencil out.

I present my offers in a written letter prior to a formal offer.  I have uploaded some of my offer letters in the BP fileplace under Letters.

Hope that helps.
Frank