creative financing

[Indra H.]

Hello fellow investors,

Any suggestions on creative financing. I was offered a 3 family (2,100 a month in rent being conservative) that is valued at around 115/120k. The owner wants to move back to his country and is looking for someone to give him at least 90k asap (no mortgage on the property). He doesnt want to finance it himself, however he is willing to take 70l and hold the other 20k for a year or so. I am interested in the property and although i have excellent credit and steady income I don't have the down payment required by the banks (I have only used banks in the past). He wants to put it on the market soon if he doesn't find someone to buy it. Any ideas on how to proceed with this one.

Thanks for your help.