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Updated about 5 years ago,
Buying a property with creative owner finance
Hey friends! I'm looking for help and advice from someone who has done a deal or multiple deals with owner financing.
I spoke with the owner, ran the numbers, and I love the property, the numbers work, etc. I'm 100% confident it will cashflow. THey bought it with cash 17 years ago, there's no mortgage.
There isn't a ton of motivation, the owners had it for 17 years, they use it as a weekend getaway and they do love it. But they did post it for sale as well as told me that they're open and would be willing to owner finance and hear an offer. They said they'd think about buying a different place. So they love it but they're not attached. So If I want to do owner financing I don't think I can offer less than the ask just because of their motivations, the numbers do work even at the ask.
I need to structure the deal so its good for all of us. And that is really what I need help with.