Creative Packaged Deal?

[Harrison Jones]

I came across a sellers interested in selling their whole portfolio in a package deal contain 20+ properties. They are open to some form of creative financing but only for a term of 10 years given their age any longer just doesn't make sense. I know if they sell completely as a cash buy they will surely lose money that a creative route could have provided them. I'm not very familiar with creative style of financing and the option that they are able to provide. What kind of suggestion do you have on how to best approach this situation?

[Tim Ryan]

Do they own all 20 free and clear? Meaning they don't have any mortgages?  I think this is a great opportunity to have them be the bank for 80 or 90% of the purchase price and a lower interest than being quoted. We say it's "trading price for terms". Pay their price but get these terms. Lending on a portfolio is hard to get. I'm assuming these are 20 single families?  Yeah, they can owner finance and this could be good. Of course, I won't care how good the terms are if these houses are crap in crappy areas. That's your job to investigate.