Need assistance w/ my first deal! 5 units - duplex & triplex!

[Jerry Rojas]

HELLO BP! The greatest community on the internet!

I'm reaching out for some guidance and general Q&A for my first deal...

Background; I'm in the FAR West suburbs of Chicago, Illinois 

This is an off market deal and I'm the first person to approach the seller who is selling for the following reasons.

• seller is a tired land lord
• looking to retire and move to AZ
• rental houses are only things keeping him here.

I'd like to structure a seller financing deal and would appreciate any guidance in costs associated, who i need to contact to make this happen i.e. cpa, lawyer, title company, ect..

Thanks all!!

[George Skidis]

437K @ 3% your payment would be about $1,825  a month before taxes and insurance. How much do these rent for? What are the taxes? How much is the insurance? What is your vacancy allowance? How much deferred maintenance? You need to answer all of these and more to determine if you will cash flow.