Tips for seller financing

[Precious Thompson]

Tips of how to get an owner to do seller financing instead of getting a loan from the bank?

[Brooks Rembert]

@Precious Thompson, well... everyone's situation is different, but generally, you want to find an owner with lots of equity, or even completely paid off.

Next is really talking to them and digging into their situation. 

- Why are they selling?

- What will they do with the money?

If, for example, they need $25,000 for some reason, let them know you can pay them $25,000 now and help them move if they'll agree to seller financing.

Stress to them they'll have the money they need, plus they'll continue to receive monthly income checks for the duration of the loan you agree to.

Many times, you can offer a higher sales price to them if they agree to seller financing (assuming your numbers still work for you).

There are many more nuances than this, but that's the general outline of how to broach it to them.

- They'll have the cash they need.

- They'll get monthly income checks.

- They'll get a higher sales price than you would otherwise be able to offer.

Best of luck!