Buyers asking for "No money down" financing!

[Belinda Lopez]

Wow - just had two potential buyers send in offers on a $500k deal (8 rental homes) where the seller was offering owner financing at 6% $150k down, 30 year amor w/a 5 year call. I've talked to several commercial and private lenders and they all said they could not match the seller's terms. I know there are some creative strategies out there but I can't imagine being able to get an individual I don't know to lend me $500k with no money down of my own!

Very different if the buyers were bringing their own financing from a bank or other lender but this just seems totally unrealistic. I mean if someone out there wants to give me a $500k loan on 8 homes with no money down and my only costs are closing costs and I'm going to be cashflowing over $3600 month, do they really think I would pass that deal onto someone else and not take it myself?!?