Special offer

Anyone have Vendors willing to hold 2nd mortgages?

By
Services for Real Estate Pros with Libertas Holding Inc.

As an Real Estate Investor I find it interesting how many Realtors, many who have an idea of what I am looking for, bring me an MLS listing and say check this out.

  • Is the vender willing to carry a 2nd?  Didn't ask
  • Did you ask any questions?  Wanted to see if you were interested first.


I'm interested if...the vendor is willing to carry a 2nd mortgage and help me buy the property they want to sell, if they do that I'm into negotiating and exploring the possibilities .  I only have so much time during the day and need Realtors who do more for me than I could for myself on the deal.

 An analogy might be trying to fire a musket in rapid succession.  You are much more successful if one person is loading and another is firing.  If someone hands me a musket and says all you got to do is aim and fire, and then they say oops forgot to put the musket ball in it...verses fully loading it and then having another musket loaded and ready for me to fire...wait a minute that sounds like a system.

 

In all my short years as an investor no Realtor has said to me, hey I have a buying system for you, or can I work with you to work out a buying system that meets your needs.  

 That's probably why so many investors think Realtors are scooping all the good deals or stick to making their own contacts in the FSBO markets?

Here's the pitch for me:   I don't want an MLS listing handed to me saying I think you could do something with this.  I get vendors to carry 2nd mortgages all the time, it is in their best interest and I show them that, why don't Realtors?  What are some creative ways for Realtors and investors to aid each other in buying and selling?

I'd love to hear it from Realtors experience and know how.  It would be the easiest way for a Realtor to sell a deal a week or a month or whatever frequency the system allows given the Realtors skills using the system.