Seller Financing Help

[Hugh Harps]

Hello All,

I need your help. I want to engage in seller financing option with an owner, who owns his property out right. Obviously, with seller financing, the terms are much shorter. I am offering 7 years term before loan is payable in full with a 4K monthly payment and the loan amount is 580K less the down payment. The 4K would be covering the interests and principle. This is based on a 30 year amortization schedule because it would be insane for to be paying the actual loan amount in 7 years - that would put in a major cash flow problem. I hear that seller financing is a popular strategy to acquiring an asset without the conventional lending. What I want to know is: How do investor structures their seller financing?