How to find small owners who are interested in seller financing?

[Carlos Duran]

I would like to find a small mom and pop apt owner. Ideally I'd like to start with seller financing or maybe even do a master lease on a smaller apt building so I can learn the ropes.

I'm not exactly sure how to find these kind of sellers who would be interested in seller financing. I'm located in San Jose, Ca, idk if there are people who will take a young guy seriously. Do you have any recommendations?

[Account Closed]

Carlos,

Let’s dance. My partner and I own a few multifamily buildings in San Jose. Let’s say we’re open to your idea. What do you have to offer to put us at ease to sign a master lease with you?

A BP member currently rents a few units from us and a couple of handful units from other BP members to run his travel nurse/corporate rental operation. He’s been traveling the world for the last 3.5 years on the arbitrage income he’s making from our rental rate and his corporate rental rate. He has someone runs his corporate rentals where he gives her a portion of the profit. Say he nets just $500/mo/unit, after all expenses and the split, times it by 20 units. That’s $10k/mo of passive income. This money goes a looong way in SE Asia where he can live on $1,500/mo. The rest of the money he’s blowing it on..... I don’t know. 😜

It’s doable, but it’s reserved for the special few. Put yourself in the owner’s shoes and work it backward. Why should they choose to work with you over others? 

Have fun figuring it all out. I guarantee it’s worth the effort. The rewards are reserved for the special few. That’s why we have the 99%er and the 1%er. The same goes with real estate investing in the Bay. The high barrier of entry keeps the 99%er out. Only the special few gets to join the ranking. 

Best of luck.