Apartment complex purchase

[Scott Gorham]

I found an apartment for sale with an assumable loan. The loans has 35 years left with a really good rate. My question is how do I work out a deal with the owner so that I pay him back over time the equity? I don’t have the cash to give him for the equity he has and assume the loan. What would this be called and how would I structure a deal to propose to him. I have his phone number but wanted to come up with a good proposal before I call him and pitch my idea. Any help would be much appreciated.