Owner financed deals: Where to find them?

[Alain Chautard]

I own two properties financed through two personal mortgages overt he past 2 years. I'm now thinking about my third investment, but don't want to make much of a down payment for it. Instead, I think that an owner financed deal would be great. The only thing is: Where to find such opportunities? Is there any database where owners interested in financing would list their property?

Thanks in advance for your insights!

[Spencer Cornelia]

@Costa Deir

Seller:
massive reduction in tax hit when selling
receives 6.5% interest rate for 30 years without any work
worst case scenario, I default --> he gets back property with my down payment and payments and can re-sell
nice check every month ($1,513 in my case)
can sell with no closing costs, agent fees, or lawyer fees (I covered these as our agreement)

Buyer:
no rules for down payment - for me, I'm only putting down like 8% on a multi family buy and hold
I get a cash flowing property with only $20k out of my pocket
no PMI if less than 20% down payment (this is huge help to cash flow)
**it may not count towards mortgage limit through the eyes of a lender**  --> not sure about this, I'll need to do some research to confirm.

@Richard -- you never know what a seller's interests are.  Mine wanted to retire and a $1,513 check every month is exactly what he wanted.  He knows the property and how it performs and knows that worst case scenario, he keeps all of my money and equity and gets the property back.