Seller Financing Options

[Kevin Clark]

I would like to talk to someone with experience in seller financing. I talked to this guy that owns his rental house free and clear and is tired of dealing with his new tenant. so I asked him if he would consider owner financing and he said yes, but had to leave before we could discuss any further (he was at work and received a phone call).

some of the questions I have are:

say the house is worth $120,000 and he is willing to get rid of it for say $90,000 (just guessing here). can I take possession of the house (with deed) and in the contract say something like I will give him x amount of front ($10-20K) and starting 6-12 months later pay him x amount per month?

if we agree to terms similar to above, could I get a private money loan to pay the initial ($10-20K), then borrow money against the house to pay back the PML and invest in other properties?

it may be easier to call me and help me understand the deals im looking at and what the best approach to buying these properties are.

Thanks,

Mr. Kevin Clark

send me message for my number