60 years old with a lot of equity in a few properties

[Lori Nebel]

I am 60 years old. I am looking for ways to use My equity to create a greater cash flow. I have 3 rental properties right now. Two of those and my own personal residence have quite a bit of equity and numb and I want to leverage it well. I know the BRRRR method and I'm motivated in that direction. Yet I also know that I don't know what I don't know. Any thoughts and ideas are welcome.

[Joe Villeneuve]

Originally posted by @Lori Nebel:

Hi Joe, what are you interested in buying?

 I'm looking for sellers with 100% equity looking to sell using seller financing.  It's a win/win for both parties.  Controlling taxes, passive income without tenants, termites and toilets are just a couple of plusses for the seller.  Not to mention the added income from the interest charged on the loan.

One of the added problems retiring REI have with trying to sell their payed off properties is finding buyers that will pay full price. There are two options for buyers:

1 - Homeowner
2 - Another REI

...neither are interested in paying full price, but or different reasons.

1 - The homeowner isn't interested in buying a property with a tenant in place.  They don't want to be a landlord.  They want to live in the house...now.

2 - The REI is buying with the idea of holding for cash flow. The full price value won't cash flow.

This means the seller has to sell at a discount rate, which REI's are taught to offer even less.

Buy selling to a REI on seller financing, the new REI buyer can make the property CF based on the terms, and this includes paying more than what the other REI's are willing to pay. This also means the seller can usually get more than what they would have gotten if they could gave sold it at full price, when you add in the interest income.

This is probably my favorite way to buy.