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Updated about 7 years ago on . Most recent reply
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who pays the rest after portion of seller financing?
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
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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.