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Updated almost 4 years ago,
Seeking words of wisdom. How to structure a 15 prop. owner financ
Hi there Bigger Pockets ,
I'm just freshly out of my first training classes as a new real estate agent . I'm very new to real estate investing. I just recently ran into what I think would be an amazing opportunity. So I'm trying to acquire 15 residential properties owned by a tired landlord. I'm trying to figure out what would be the best option to structure a deal with the owner. I know cash would be a perfect option. But if I can't raise the cash to buy all the properties, I've heard about owner finance with a balloon payment at the end of an agreement made. Has any body done this type of creative deal? Properties are about 60K a piece = $900K in total. Properties are not in the best shape and landlord does not want to do any repairs. I would be buying them at a discount. My plan is to rehab and flip them. I guess what I'm trying to figure out is how to present an offer that will be enticing to the owner where they would feel comfortable doing an owner financed agreement with me. Any insight would be greatly appreciated.
Thank you