Swipe This Negotiating Tip to Get Seller Financing

12/02/2010 | By | 8 Replies More

I was talking with one of my friends recently, Justin Lee, who shared a great negotiating tip to get seller financing.

Not sure about you, but I LOVE seller financing.

… because any amount of the purchase price that the seller is willing to accept in payments over time is less cash that’s needed at closing. Thus, making it easier to get the deal done.

Plus, the less cash you put into a deal, the higher your return on investment.

So, when Justin shared this valuable nugget of negotiating wisdom, I had to relay it over to you.

Check out the video below…

(the quality of the video isn’t very good… but the quality of the content makes up for it :-)

Got another negotiating tip you would like to share?

Toss your tips, comments, and questions in the comment area.

Happy Investing!

~ Patrick

P.S. – What do you think of my second home???

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Category: Negotiating, Real Estate Investment Financing Strategies, Tips and Tricks

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Comments (8)

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  1. Dave Rav says:

    Good stuff! Way to transition into a conversation favoring seller to opt for seller financing. I’ve also learned, from Mr. Carson in the SC upstate, to offer the seller options. You present it as such: “So, Mr. Seller, here are your options..” People like options, not just a one-offer purchase price. I say all you do here is place seller financing as one (or all) of the options and make it very appealing. This way they choose without any bias/sales pitch/convincing from you.

  2. patrickriddle says:

    Nice Dave! Thanks for sharing.

    I’m with you… people love having options, choices. It makes people feel like they are in control.

    Thanks for sharing Dave!

    ~ Patrick

  3. Good Stuff. Always good to get a new sales tactic to add to the arsenal. What % of your deals would you say are terms deals vs. cash deals? I have a habit of going for cash deals simply because my end goal is typically to wholesale the property and therefore money isn’t tied up for very long (if at all) —- but are your goals to acquire more property holdings for the long-term?

  4. patrickriddle says:

    Hey Brooks… I’d say around 80% of my deals are terms deals. But, my primary biz model has always been buy and hold… and to wholesale and flip to create cash for the company.

    If you’re main strategy is wholesaling, it makes sense to be negotiating all cash deals. Because otherwise, you would be counting on the buyer to live up to the seller finance terms you negotiated… and I would rather not be in that position personally.

    ~ Patrick

  5. Exellent negotiating technique. I will be sure to use this in my next negotiation opportunity with a seller finance deal. Our strategy is to take title to as many properties as possible in our market. A lot of investors will pass over the Sub 2 deals because they don’t have enough equity to rehab or wholesale. But this is opportunity.

  6. patrickriddle says:

    Yeah, I thought it was pretty slick too. Let me know how it works out for ya.

    I agree with you on subject to deals… lot’s of opportunity. I still stick to my buying criteria though (around 65% of value or below).

  7. Abiola says:

    Hi P-Rid, can u send me the video plz?

  8. Patrick Riddle says:

    Hey, I just double checked and the video is still on the page here. You may try a different browser to view the video.

    - Patrick