Four Reasons To Offer Seller Financing
By Steve Gillman
Here's an example of seller financing: Years ago I bought a small rental property, and nine months later sold it for 15% more, without fixing or improving a thing. Seller financing is what sold it. I took a $1000 down payment, and I still get money every month, with 9% interest.
Reasons To Offer Seller Financing
1. You can get a higher price. Buyers pay for easy terms. Why? Maybe they can't get financing, or don't want to tie up their cash. In the example above, the buyer got a place for almost nothing, that the renters will pay for. He comes out okay even if he later sells it for less than he bought it for.
2. You get a decent return on your money. The 9% I'm getting is okay, but the true return is...
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