100% owner financing

[Harold Burgess]

Can anyone tell me a time where they had 100% seller Finance, 

What was some of the steps you took to make the deal happen..

How did you advertise or come across the seller

[Jay DeCima]

Harold

I have done no downs in certain specific situation but here are my thoughts on it:  

NO DOWN OFTEN MEANS OVERPAYING

The important thing to remember is you can purchase properties with dollars or pay with your personal skills, but you must always pay. When you are negotiating to buy a property, stop and think about the deal as if you were the seller. Would you sell your real estate for nothing down if you thought someone would pay a normal down payment? I don’t think I need to ask what your answer is, and neither would I, inmost cases, acquiring proper­ties for no money down means you’re paying too much to start with! That’s the wrong way to make profits in this business.

Many neophyte investors have made the mistake of buying marked-up houses for no money down. They automatically assumed they could earn a profit because no cash was invested. With high mortgage payments and short-term balloon notes, their dreams of becoming rich tycoons quickly turned to nightmares instead. The “free lunch” strategy may work well for selling slick-covered books on cable TV, but in the real world, you won’t buy much value for nothing!

If you’re not quite ready to pay cash just yet, then it’s absolutely necessary that you learn. Look for sellers who are willing to ‘tailor-make’ the financing to make the deal pencil out.

Good luck.

Fixer Jay DeCima