Owner financing (HELP!)

[Jose Alonso]

Hey guys, so tomorrow I have a meeting with a young lady who's father owned a 4-plex and recently died. She apparently doesn't want to deal with the property and I was told she's is willing to sell, So I called her up and she agreed to meet me for coffee tomorrow. I'm going to try and acquire this property through seller financing since at the moment I wont qualify for a 300,000.00 loan, I just left a real estate attorney in my area a voicemail waiting on his call to see if he can help with the process (if she agrees). Has anyone out there done this before, any tips what should I tell her to help close the deal. Please advise greatly appreciated.

[Drew Castleberry]

Also, remember all parts of the owner financing is negotiable.

Try to have 3 different options to present to her. For example, 1. Full purchase price with a market interest rate, 2. lower purchase price with a higher interest rate and 3. above asking price with a below market interest rate. 

You can also include an option for a cash purchase. Typically this would be 75% LTV since that should be easy to get financed for and lead with that. In most cases that cash offer will be too low and then you roll right into the sales pitch for owner financing.