Podcasts Business Making Money in Multifamily Real Estate Show 25 | Listening to the Seller's Needs on a Seller Financed Deal with Todd Dexheimer

25 | Listening to the Seller's Needs on a Seller Financed Deal with Todd Dexheimer

Published: Dec. 23, 2019, 5 p.m.

Today's guest on the Making Money in Multifamily Real Estate Show is Todd Dexheimer

In this episode we cover:

  • A deep dive on a recent acquisition Todd has taken down, a distressed 120-unit with 70% occupancy
  • How Todd secured seller financing on the deal, and why he even went for that route in the first place
  • His conversation with the seller which helped him find out his motivation for selling was both a personal and business decision
  • What type of tools you can offer in a seller financed deal that could help entice the seller or make him/her feel secure on their side of the deal

Quotes from the episode:

  • I did a seller financing and the guy, he had a distressed property, but that wasn't his problem. His problem was what he wanted him to spend time with his grandkids, so we came up with a solution. He still liked the cash flow, but he wanted to spend time with his grandkids and his daughter. So that was an easy solution for him. What I did was I showed this guy what his, what the amortization table looked like, what his interest would be and how the setup was for the seller financing. That allowed him to really understand, okay, what does seller financing mean? Because I think a lot of people, that's the confusion, is that hey, let's do... Will you do seller financing? Don't ask them. First of all, don't ask them if they are doing seller financing. Tell them to do seller... Tell them they are doing seller financing and why. That's what you've got to do with when you are trying to solve somebody's problems. You have to communicate clearly with them.
  • Look, I mean if you are setting up seller financing, set stuff up like that. Set things up that aren't going to hurt you, that you know that look, there is zero possibility, zero possibility that I'm not going to keep this thing for a year or whatever it is. It would be crazy for me to even think about refinancing or selling in less than a year. Well, then make it an interest only and guarantee that you are going to pay them a year's worth of interest. That makes them feel warm and fuzzy inside. But it does nothing negative to you.\xa0

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Reach out to Todd:

Thank you for taking the time to listen. If there is something I can do to help you or your business or you would like to introduce yourself, please get in touch:

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*****Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.