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Updated about 6 years ago,
How to pay off balloon payment - Any ideas?
Hi Everyone!
I have come across a pretty exciting real estate deal and have worked out terms for seller financing on it. I only have to put 5% down on a portfolio of 11 SFH which is exciting because I could almost double my portfolio in a single deal and barely put any money into the deal. The seller has agreed to my seller financing terms but wants a balloon payment in 3 years. This is where I am worried...
I would need to come up with a $400K balloon payment in 3 years and I have no idea how I would do that. Does anyone have any ideas or suggestions on how I would be able to get the money to pay off the portfolio in the next 3 years?
I really appreciate any and all feedback.
Regards,
Darsh