It’s around 1% fo all home transactions and the average down payment on seller financed deals is 25%.So all those grooves out there, tell you you can get seller financing with 0% down are like lottery stores telling you that you can hit powerball.Technically yes you can, but they forget to tell you the frequency of it happening

As a loan officer, I'd like to mention that CalHFA has a "lottery" system in place.

Yes, these things do happen, but people win the lottery too and I'm not buying lottery tickets.Also, if you're not running your LLC correctly a judge can still hold you personally liable.

@Darrcelle McGinnis wow, I should play the lottery today:)Couple of thoughts:1) Don't burn a bridge with the contractor friend.

Some open a limited number of permits and throw everyone into a lottery system.

If we want to talk Zion or Springdale... we are all simply late to the party, it is CRAZY regulated (understandably so) and if you got in early you hit the lottery.  

Those that will be successful can be successful without spending big $ and those that spend the $ look at it more as a lottery ticket unfortunately.

You have a better chance of winning the lottery than influencing an appraiser!

We got wind of it through one of our Broker contacts.. the issue for the land owner is he had taken roughly the same option payments yearly 150k And now with the option failing he was going to have to capture all that income as earned income and pay tax.. ( which of course he is kind of like a lottery winner the 150k a year was always gone in 10 months) So he was in a potential bad spot with IRS and we were able to step in and take over the option for the same terms.

The tenant may not have any money but in the event they ever sue someone and win a judgement/win the lottery/etc. you'll get your money (just make certain to keep the lien active - you may have to renew it years later when it expires).