First Post, Second Off Market Purchase

[Austen Webber]

Hey BP!

Excited to get started in the forum after a year or so of listening to the Podcast. I can't say enough about the value I have received from the podcast. And now having recently found the Real Estate Rookie podcast and fb group, it's just an incredible wealth of knowledge!

Having trouble with strategy on my second deal, and hoping to get some insight. I am purchasing 6 single family homes, and it will initially be owner finance to make the deal work. I am purchasing the property for $215,000, and the tax value is currently at $288,440.The owner will only finance for a max of 7 years, and after running the numbers, I'm gonna have to raise rent (which needs to happen regardless), in order to cashflow. My plan is two find a way to refinance so that I can stretch my payments out but also be able to pay her the agreed upon principle and interest.

Is there a way that I could refinance immediately and stretch payments to 20 years? Also, how would I go about estimating what my appraised value on these properties might be? Sorry if these are elementary questions, but deal number 1 for me was a no brainer, and this one has got me scratching my head lol. 

Thanks! 

-Austen