I facilitate local investor meetups in Charlotte NC. We frequently get new investors who are looking for owner financed, subject-to, and lease option deals.
These normally DO NOT EXIST. Every seller understands cash....
Creative Finance deals are developed through an education process to solve a problem for a Seller (and for you as a Buyer).
Yes - some wholesalers develop these opportunities and assign their contract - but they are better off finding a way to stay in these deals.
Fact - most Sellers may not accept your proposal to owner finance or other creative financing model - but it only takes a few of these deals to kickstart your progress. Don't get discouraged - it may take 20 offers to get one. Focus on tired landlords and properties needing work. Develop rapport with Sellers to improve your success.
Consider making 3 offers - 100% owner finance, 90% owner finance, and cash. Your cash offer would be the lowest total price offered. For example - a house rented or would rent for $1000/month - offer $90k if financed with no money down, $70k with $5k down, and $55k cash. Don't get caught up in interest rates offered to the Seller. Make sure you have good positive cashflow - $200/month minimum. (If these $ don't work in your geography - live where you want - but invest where it makes financial sense. This strategy works in some Charlotte suburbs but not likely in Charlotte NC city). Use an investor knowledgeable attorney or title company to prepare the financing paperwork.
Real Estate is not all about houses, multifamily, land, deeds, etc. Real Estate is primarily a People Business !!
