All Forum Posts by: Mike Hjermstad

Hi @Mike Hjermstad, welcome to BP and REI! If you look at the top of the site there is the search icon (magnifying glass). Search with your questions. There is a wealth of info specifically about buying on terms - L/Os, Subto, Seller Financing.

If you still have questions, feel free to reach out.  I'm not in Minnesota but will try to help with any specific questions you have. :)

 A lot of people use Seller financing. I've done quite a few myself. You can often get better terms than you would through the bank. For example, one of my deals was 10% down and 5% interest when the bank was requiring 25% down and 6% interest. It's worth studying this method and learning what the benefits are for the Seller so you can pitch the idea and make it appealing for them.