Im interested in Seller Financing

[Brandon Gamblin]

Hello BP family,

I'm looking for a seller finance opportunity in the Orlando, Florida area. I'm not sure on how to use this to my advantage as an investment, as well as not being sure if I should use this is as my primary residence. I'd rather use it for a primary residence, since I'm currently wholesaling right now. 

Could someone explain to me how you can profit from an investment of a seller finance deal?

And could you also lead me to some resources or someone who owns property in the area willing to "be the bank?" 

[Michael K Gallagher]

Hey @Brandon Gamblin I'm not sure I entirely understand your question, but the fact that an investment would be seller financed does not really impact its "profitability" if you well or its ability to create a profit.  If the income and expense ratios for the deal make sense with the seller financing then it can be the same as any other investment strategy.  

If you are looking for some ideas on how to structure a seller financed deal considering the desire to move into the property....its actually a fairly interesting idea, and the best I can come up with is to suggest  finding the deal through your normal wholesaling channels but you are now looking for a property you can occupy.  I'd seller finance it as the initial purchase, then using your funds from your wholesaling do a live in flip on it over 2 years, and then sell it at the end of the two years, you pay back the person holding the original note just like you'd pay back a normal mortgage upon sale, and you'd have a net profit tax free because it was your primary residence for 2 of the last 5 years. 

Now I am not a lawyer nor do I operate in your area so I'd suggest talking to a title company and CPA in your area to understand exactly how the deed and title work need to happen to make this or any other plan work.  

But its an interesting concept if you can find the deal to make it happen.