Need help structuring this rehab purchase

[Bret Arrington]

Wanted to get some ideas on how to structure this deal. We typically purchase outright from seller then do the rehab and put on market when complete.

I have a opportunity to purchase a house from seller who really wants to sell to us..even brought up helping with finance.

The property is in great area, $400k house, he owes about 180k with payments around $1200 a month. The house needs about 30k in rehab and our purchase price will be $260k. He is okay with getting paid once we sell house..seems like a good owner finance opportunity but not sure how to structure the deal.

I would like to take advantage of his offer of help with financing as its will be much cheaper than my normal private money or hard money loans, just not sure how to structure.

Any help or suggestions appreciated.

Bret