Finding Seller Financed Properties (purchase money mortgages)

[Edward Schenkel]

I have seen some investors do very well with seller financed transactions. In other words, instead of using a traditional bank, the seller provides a note, or "takes a note back." These deals are often attractive because you can close quickly, do not have to bother with the headaches of a traditional bank, and can structure the note differently (e.g. interest up front, balloon payments, etc..). Has anyone had success with such a structure? If so, how do you go about finding these types of deals?

[Stephen Kiser]

With every deal I come across I make an owner financed offer and a cash offer that is less appealing. Sometimes you will get the owner financed terms and sometimes they'll take the cash.