My seller financing plan would like some critiquing. Trying to buy first house :)

[Max Swagger]

OK so I am wondering how viable the more experienced guys think this is:

I target older people on social security that most likely have their house paid for.

I leave a letter from me introducing myself to them and making them aware that I would like to buy their house in a win win seller financing agreement

I would tell them that by financing their house themselves, I would pay them a better return than any bond, money market, or savings account. And stocks are too risky.

Also, by self financing to me and receiving installments, they could potentially save a lot on their taxes.

What do you think the success rate of this would be?

Also, how do I find these kind of people?

I'm sure this is a fairly common strategy... am I missing anything? anyone have some experience to share?

Thanks!

[Account Closed]

So stocks are too risky but an unknown guy promising to pay some interest is as secure as a bank deposit?