Cold calling for owner financing.

[Bryan Richardson]

I've been trying it today, only calling landlords trying to sell by owner. It's not going well!

Has anybody had success cold calling for sale by owners for owner financing?

[Daniel Dietz]

I have been using the BiggerPockets Journal to work on my Real Estate goals, with one of the main ones being to find more quality 1-4 unit rentals in our ruralish area where not much comes up on the MLS.

So, I drive around and find ones that look like something I would like to own, and find out who owns then and give them a call to see if they are at all interested in selling. I track in all in the Journal.

So, after 78 calls over a year, I probably actually talked to about 30 or so people. Of those 30 3 of them are at some level of interest in selling at a price that makes sense on my end too. Of those 3, 2 were interested in Seller Financing. I mentioned it to the others as "If you would be interested in doing a Seller Financed deal I could help you save realtor fees and have a great income stream, or if not I will just buy it conventionally".... meaning not to say that is what *I* want, but that it *might* be something to help *them* out.

The first one ended up going to someone else who was cold calling at the same time and was willing to pay 10-15% more than I was. The one I am working on closing right now that is the ONLY way he wants to sell..... No realtor commission, spread out takes and stay in a lower bracket, and a steady income stream for 15+ years. I should add that he does not need this income or cash right now... it is basically being snowballed for later in retirement.

Moral of the story is keep plugging away, and try to make 'the pitch' about how you can help THEM out, IF that is something they would consider.

Do you have the means to do it without seller financing if needed?

Dan Dietz