My 1st seller financed deal with awesome terms! (includes pics)

[Peter Fennig]

So this duplex is my third property that I purchased just by chance while doing repairs to my sfr thats right next door. I was working on my place when I saw a man on a ladder painting some bare wood on the duplex next door due to code violations. I started some small talk with him and found out he was the owner who lived 2 and a half hours away whos tenants skipped out on 3 months rent...then skipped outta town. I suddenly got very curious and asked him what he planned on doing with it. He said he wasn't sure, but knew he had to correct the code violations to avoid fines which is why he had to make the long trip to fort wayne from indy. I had listened to enough bp podcasts to know that he sounded like a potentially motivated seller... and that the worst thing he could say if I ask whether hes interested in selling is no. Thinking that, I casually asked if he'd be interested in selling, and he saif "Yes"!!! Literally within a few hours after asking that, we had agreed to a purchase price of $15,000 at 0% interest as long as I could repair the violations to avoid any fines for him. 24 hours later, we were notarizing a purchase agreement and the house was mine with only $2000 out of pocket. Within a month i had fixed all his violations, put a substantial amount of equity into the house with other repairs and upgrades, and as of 2 days ago paid off the remaining balance of the contract 16 months early using an unsecured loan. Its not done yet, but I really wanted to take title to give me more options on financing to finish repairs and to give me more leverage . Heres just a few before and afters so far. This project has given me much needed confidence and motivation to do more seller financing in the very near future! 

[Mark Holencik]

That is great. Most people are afraid to ask. They are afraid of loosing something they do not have.