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Updated about 7 years ago on . Most recent reply

User Stats

75
Posts
37
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Alex Cornwell
  • Rental Property Investor
  • Quincy, MA
37
Votes |
75
Posts

who pays the rest after portion of seller financing?

Alex Cornwell
  • Rental Property Investor
  • Quincy, MA
Posted

I have been marketing my area and the leads are pouring in. There are deals I want to jump on today where a seller is willing to carry 25-50% of the property cost. My question is, who pays for the rest? I have heard and read a number of times around here that I can find funding to come to the table with the rest of the funds to close the deal.

I'm fine paying closing costs and lawyer fees and I consider that to be skin in the game. Let's be honest those funds can be significant. 

I can't afford to come to the table with 10% over and over on top of covering fees.

I am in these properties for the long haul. I want to take care of them and give my tenants a great place to live. I have called a number of banks and lenders and all have declined to be part of this strategy. I consider marketing and selling the sellers on seller financing to be a great value add. 

Who are the people or institutions who can partner with me to make this a repeatable process? If you want to talk, I'll be here in Massachusetts. 

Most Popular Reply

User Stats

7,658
Posts
4,300
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Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
4,300
Votes |
7,658
Posts
Roy N.
  • Rental Property Investor
  • Fredericton, New Brunswick
ModeratorReplied

@Alex Cornwell

If I understand your post correctly, you want to secure deals with no capital of your own in the game?   It's a nice thing when it happens, but it's not a methodology upon which you can readily launch your business.

If  you have an established track record and are willing to take a small slice of the pie, you could probably attract private money willing to partner with you.  Until then, I'm afraid the easiest way is to bring your cheque book. 

  • Roy N.
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