HELP!! With seller financing on a 9 unit!!

[Rob Shipley]

Need help with seller financing!! I'm looking to BUY a small 9 unit complex. The seller is older and would like this to basically help with retirement. He's even willing to go 2% interest!! But he wants around $250k for the complex... need some advice on how to structure the deal AND what price I should counter with. Basically need help with structuring the deal and possible value adds on the deal. Below is info on the property and I will attach financials shortly. - each unit rents for $695-$750 a month - almost always 100% occupancy - currently ALL bills are paid - built in 1930s but its actually been updated and in good shape - had a fire from a candle 1.5 years ago and that's the reason for the recent high repair costs etc. - 2014 net income was $25k - 2015 net income was $34k - 2016 net income projections are $40k - owns stove and fridge in all units - does all repairs and maintenance himself

[Rob Shipley]

Thanks.. just signed an option to purchase agreement for $250k and negotiated with him from 10% down to only 3.5% down ($8,750). So it looks like this..

Sales Price- $250,000
Down Payment- $8,750 (3.5%)
Interest Rate- 2%
Monthly Payments- $1220
Term- 20 years

Pretty sweet deal.. thanks for the help guys!!