Buying Seller Financed 4-Plex From a Friend - Looking for Advice

[Scott Jensen]

Hello Everyone!

I have an opportunity to purchase a fully occupied four-plex near me from a long time-acquaintance/friend.  He is winding down his real estate portfolio (he's in his 70's now) and is willing to seller finance the deal with a minimal down payment.  We are in the very early stages of discussing the sale and I was hoping to get some input from some of the awesome people here at BP! I'm a new investor, I've had one single family rental for a year now so I still have a lot to learn.

We are meeting for coffee soon to start discussing specifics... So I'll be asking about the tenants, current leases, rents, property expenses, and financing arrangement. Am I missing anything? Any tips, suggestions that you would recommend to make this process go well?  Thanks!