First Investment Opp / OPTIONS?!

[Ashley Cook]

I have an opportunity to purchase at a discount a clients investment property. I do not have funds for down payment to do traditional financing out of the gate.

The seller is open to seller financing and me refi’ing as soon as possible (6mo is the timeframe my lender gave me.) Their motivation is to get out of the property and to get cash in hand within the year.

However, they have a mortgage on the home. Let’s say it’s not assumable, what are my options without possibly going the seller financing route and not being able to refi it as planned due to some unforeseen legality? 

I cannot accept gifted funds and use them without waiting 60 days - which the seller doesn’t want to wait on. 

Does anyone have a recommendation? To be honest, I feel brain dead at this point thinking through scenarios so please be helpful 🤗 not hurtful. 

THANK YOU!