Mailers for Seller Financing?

[Josh Lawrence]

I own one SFH rental and want to purchase more ASAP. I dont have cash for a down payment, I could ask my father as a last resort but I want to do this on my own if possible. My question:

Should i send out letters to property owners in the area im looking at to offer to purchase using seller financing?

I was think something that would show the benefits of having them carry a mortgage, and I would mostly be targeting burned out landlords and absent or retiring property owners that own free and clear. I would hope to do some zero or little down deals around the 7-10% interest area.

Is this a plausible idea? I have done letters just like this for my property management business years ago, and had great success. Of course that was a different animal.

[Chris K.]

If I were in your position I wouldn't send out something that was specifically focused on seller financing. I'd be more general saying that "you buy homes" and once they respond then you can see if they're open to seller financing. The only reason I say this is because you might be missing other opportunities if you send something out that focuses mainly on seller financing. Someone may have a good deal but only be interested in cash and discard your mailer cause they aren't interested in seller financing. That's a deal you could wholesale and get some cash in your pocket. If I were spending the money for mailers I'd want be open to all possibilities of making money, leave no money on the table.