Anyone Have Success with Seller Finance & Terms?

[Bob Asad]

Does anyone have much success buying SFH with seller financing? (meaning you're the buyer)

Ex. Vacant SFH, absentee owner, 100% equity

You send a direct mail or postcard asking the seller how much they want for their property. Let's say $300k, you then agree to the purchase price but add your own terms (ex. 0% interest, 5% down, 16 years to pay back).

This way, you're paying (example) $1,800/month but renting the property for $2,400/month and pocketing the difference.

Anyone have success doing such a thing?

1. Also, what's the name of this type of contract where it's just between you and the seller? (no banks involved)

2. Anyone have a direct mail or postcard service they recommend for such a scenario?