All Forum Posts by: Spencer Coleman

Thank you for such a detailed reply, I appreciate you taking the time to lay that all out! It’s given me some notes to continue learning with before taking any big steps; I’m very great full for your assistance.

Thank you for the direction to a resource, it’s abundantly helpful! I appreciate you taking the time to help me out!

Hi Bp, 

I’m a new investor and still learning quite a bit; I’ve been driving for dollars around my current neighborhood, and came across a home that is a for sale by owner and offering seller/owner finance. My question is what are a few essentials that you look for in a seller finance contract that protect both the buyer and seller. I have sought advice from a real estate agent whom is a part of my family and she enlightened me with the potential pros and cons of a seller finance deals and what they could typically be used for. Also in listening to the bigger pockets podcast I have heard how fantastic an opportunity seller financing could be. Thus I would love to gain some more knowledge of things to be carful of and ways to potentially utilize this type of financing to the utmost. Any guidance or anecdotal information would be greatly appreciated! 

Thank you for taking the time to read my post! 

Hey, BP! I'm Spencer a new real estate investor in the San Antonio area. Im still in the learning phase of trying to figure out the right questions to ask and slowly narrow down the field of ‘not knowing what I don't know'. I have yet to do a deal and am taking my time to build up a nest egg of funds to use toward my first deal. In the mean time of building this savings I'm continuing to take in as much info as I can, but trying to be specific in learning about flipping and the BRRRR process. I would like to flip to help build a fund toward a cash purchase to start the BRRRR journey in my ultimate goal of building a long hold portfolio!
Thank you for checking out my post, I look forward to being able to acquaint with all the Folks on BP!