All Forum Posts by: Nick Childs

Hi Nick, unfortunately we have not been holding formal meetings for the last 12 to 16 months.  We did continue them for a little via Zoom after Covid, but have not picked them back up again yet at this point.  If you would like, you can pm me with your info and we can add you to the email list for anytime that there is information that comes out.

I wouldn't come to the table with terms. First figure out if seller financing is something that would work for him/her in the first place. Then break it down from there. "If you are open to terms, what is the longest amount of time you would be willing to give us?" Many time seller won't know so you can say, "Many sellers will give us a 30 year term or longer. Others need to be cashed out sooner. do you have a timeframe that will work for you?" same with monthly payment, and with no money down just straight up say "we typically buy with no money down up front, okay?" and I'm telling you most of the time they say "okay" unless they need the money for a very specific reason in which case of course you want to find a win win solution for everyone :). Also I would like to clarify that structuring a creative finance deal is going to vary with each house but the most important thing is making sure that you are finding a solution that HELPS the seller as well makes sense for you.

 It depends on how motivated the seller is and if he needs the cash to purchase his next home.

I like to start with full asking price and 0% interest. For say 3 years. The basic premise is that it gets the place sold and he can move.

If they counter, it usually is with a low interest rate of $3% or thereabouts.

If they need the money, then it's not even an option.