Seller financing Questions

[James Phillips]

Hello BP, 

Ive got some questions about seller financing. I dont know much about it so a little education is needed. Here's the situation. I have a potential client who has a vacant house in my area and I know he owns it outright. Ive spoken with him a few times about purchasing his house and he doesn't like my cash price and to be honest I don't even think he likes me lol. He hates agents and I had to tell him that I was licensed. Anyway, I've heard of investors doing seller financing to give the owner a better price but get better terms. Can someone explain this? How are you coming up with the better price in exchange for terms? Im thinking of using this house as a rental so I'd like a little instruction of how to properly analyze something like this. Not even sure of what I'm not sure of on this topic so anything and everything is appreciated. Thanks!