Finding Multi-Unit Owners Willing to Finance

[Ross Gill]

Good morning everyone,

What is the best way to find multi-unit property owners that are willing to provide seller financing? Thanks, Ross

[Bill Gulley]

Why not find a property you'd be interested in owning first, it doesn't have to be for sale or listed. Then inquire, then suggest seller financing. I have found that most owners of under 50 units are open to seller financing, they are in real estate, they are aware of the benefits and they usually know financing can be difficult for what they hold.

I'd say half the units in my area under a 24 unit complex are for sale, pretty much like most small motels, mom and pop drive-ins, small dinners, older storage facilities and car lots leased to used car dealers who go  bust every 3 years.

Why are they not sold.....because there are no buyers at the price they want. Compromise, lower price and take interest income. If you can make it cash flow, give them 12% for 5 years, just don't pay too much or they will end up owning it again.

I don't think there is an app for what you're asking, you may need to use some shoe leather as horrible as that may sound, it works.

You can sure look for distressed properties and sales.....but another issue, if you don't have the money to buy, do you have the ability to repair, improve a complex, change it's reputation in the area, draw new tenants and make some trash pile profitable?

Multi family takes operating capital, money in reserve and to hold besides buying it. Regardless of how you get on the hook to take "control" of it. :)