NNN Transaction Strategy

[Cameron Dirck]

Hey BP Nation, I have a deal that I would love some advice on.

So I found a NNN property that is very stable and the tenant has 12 more years remaining on the initial base term before they can exercise their 1st termination right. What I like about this deal is that it is very safe (in my opinion) and I found out the seller is willing to do seller financing. So I am thinking if I can own and operate a ~$6M piece of property with virtually a small down payment then I win. In 10 years I will refi and get the current owner out of the deal. The problem is that he wants a huge down payment. This is my 1st deal so I understand my name is nothing and I have no reputation in the space. All I have is hustle and a creative mind to put deals together (but no idea where to get the capital).

So this is where I was wondering if someone with more experience can lend some advice: So my next move is to ask if he wants to do a Master Lease (the lender is okay with it) because I am sure he doesn't want to pay those taxes right now and I can just take over the property. What do you guys think about that move? Am I missing something? I appreciate any advice given! 

Thank you all for your time!

Cam

[Cameron Dirck]

@Steven Ko you’re very right and I appreciate your response. This just came out of the blue so I thought I would jump on it and try and figure it out. And yes I have read that book and loved it! Will get there very very soon!