HOW TO SELL FOR TOP DOLLAR

One of the most rewarding parts of investing in income-producing real estate comes when you sell the property and finance the sale yourself. This is called seller financing or taking back a mortgage. It’s what almost every “get rich” real estate book suggests you try hard to find when you’re the buyer (find a seller who will carry the financing).

When I write about this subject I usually refer to trust deeds, promissory notes and beneficiaries because I live in California. How­ever, mortgages work exactly the same way in non-trust deed states. The beneficiary is the person who gets the payments, meaning he or she benefits. It’s those payments coming to me every month, from the sale of my property, that I refer to as “pajama money”. I can go out to my mailbox in my pajamas to pick up the checks from the person that bought my property.

If you are a new investor or you’ve never thought a great deal about playing the role of banker some day when you sell your prop­erty, you can make some serious profits that you might not ever have considered before. In my opinion, every do-it-yourself investor should take full advantage of this lucrative opportunity.

Selling your income properties with owner financing and good terms will open the door for many high-profit opportunities that would not otherwise be available with an all-cash sale, or even when institutional lenders are involved. One of the most obvious benefits is you can sell for top dollar. This happens for the same reason that almost everything will sell for more money…… when offered with payments over time.