Looking into seller financing. In need of help to approach a seller!

[Aaron Bard]

Hi everyone,

I've been hard at work fixing up the unit that I am house hacking in my 3plex. But I'm hungry for more. As my lender said...I've got "the bug".

My question is: how do I approach someone with the idea of a seller financed deal? I found another 3plex on the market that is right around the corner from the one I'm living in now. I can literally see it from my kitchen window! I would love to invest right on the same block.

I found this property on Zillow, and because of that I don’t know how to approach this. I texted my agent to ask about the property, and she gave me some information about the current rents.

The other problem is that I cannot refinance until December of 2024. And due to my FHA loan, I have to live in the unit I have at the moment. Thankfully, my two other units pay for my mortgage in-full, as well as a couple of the included utilities; so I'm not worried about leaving a vacant unit for a few months.

I also searched the real estate map for the city that I invest/live in, and it said that the owners live on-site. But I'm not sure if that is accurate due to all 3 units having listed rents on the MLS.

In conclusion:

How do I go about finding the owner of this property, contacting them, and discussing with them the idea of seller financing?

How do I go about scheduling showings, inspections, title transfers, and closing with a seller that is financing a deal?

Any advice at all is much appreciated.

Thanks!

[V.G Jason]

Go drop a note on his door. Say you're interested in buying his/her house and if they're interested in working a seller-financed deal if there's no note on it.

Not sure what advice you need there, literally walk over and do it. If the owner doesn't live there, ask the tenant or whoever answers the door who it is and how you can contact them. 

Once you get that, you can worry about the rest. But do it like any other real estate transaction, a diligence date, emd, inspection, title attorney, etc. So these costs need to still be included.