Where can I get the best Seller Financing information?

[Ivy Hailey]

I need to expand my seller financing knowledge. I am wondering if there is anyone on or off Bigger Pockets who will assist me with this? I was also wondering are there any great articles or books that will assist me as well. I have a strategy but I am challenged with what amount for a down payment would be to high or what amount of time frame would be to short when structuring a deal? I know you want a low down payment and I know you want to stretch the pay off for the outstanding balance out as far as you can. I just want to know is there a strategy when coming up with those crucial terms and how the mind of a savvy investor comes to those terms to ensure I don't burn myself. Thanks in advance for your time and assistance.

Peace be unto you,

Ivy

[Jeff Filali]

@Ivy Hailey Are you looking to BUY with seller financing or looking to SELL with seller financing?  Both are totally different approaches, and there's different recommended sources for information depending on what you're trying to accomplish.

[Joe Villeneuve]

Seller financing is an enormously broad topic.  I can give you the basics in a bout 15 second.  The application of the basics takes much, much longer.  Do you have a specific type of SF you are looking at?

[Ivy Hailey]

@Jeff Filali

I am looking to BUY with seller financing. Thanks for your assistance.

[Ivy Hailey]

@Joe Villeneuve @Jeff Filali

I am interested in purchasing a Single Family Home and a Multi-unit property with Seller Financing. When you asked what type can you please be specific Joe. I don't know the different types other than 4 types which are: no interest and no collateral paying the seller only annually, interest on the back end with no collateral, compound interest with no collateral, or compound interest and collateral. Here is an ex: If I have a property where the seller is asking for less than market rate for the property lets say $150,000 (property ARV $200,000) and the property is free and clear. My initial offer would be seller financing that pays annual payments with no collateral, interest or no monthly payments. So, what down payment and terms in regards to years would you offer?

If that offer was turned down and the owner wants interested then I would attempt to offer an interest on the back end with no collateral. Then I would be pondering as to what would be a great interest rate? 

Afterwards, if the seller is insisting on a offer with compound interest monthly payments, then I would be asking myself what would be a great interest rate, down payment and years?

I do have a last offer which I would not even offer until I am in the position to do so. This offer would be compound interest with collateral. So again guys, my question would be: what amount for a down payment would be to high or what amount of time frame would be to short when structuring a deal? Again, thanks for your time and assistance.

Ivy

[Joe Villeneuve]

@Ivy Hailey  Here are some of the different forms of "seller financing"...the short list:

1 - Straight up holding the mortgage
2 - Taking only partial funding.  A 2nd mortgage to the banks 1st.
3 - Straight up mortgage using a different asset as collateral.
4 - Using an Option
5 - Using a Lease Option
6 - Using a Sandwich Lease Option
7 - Using a Land Contract
8 - Doing any of the above alone or in combination...and selling it to another investor
...and that's the short list.

[Ivy Hailey]

@Joe Villeneuve 

Than short list was awesome. Joe, thank you so much.