Seller financing ideas

[Claudio Salvatorelli]

Hi BP Community,

We recently came across a triplex in San Diego currently listed for over $2M. Debt Service for that loan is about $400K and the seller is in need of paying that balloon loan ASAP.

Any ideas on how to structure a deal to seller finance the property without putting the $400K to settle that loan and helping the seller to solve their issue at the same time?

Thanks 

[Vince Craig]

I'm not sure what the market rents are for the area. I'm wondering if you can get a loan to pay off the 400k balloon, then see if the seller would carry the rest? Just depends on the income...