Combining Conventional and Owner Financing

[Cole Blezard]

Hello everybody!

My buddy and I are looking to buy a duplex. The owner would prefer to do a private sale and skip any realtor fees. After speaking with him it sounds like he would be interested in selling the whole thing. The issue is that if I put down the conventional 5% on the asking price $500k the majority of my mortgage payments would be interest. So I thought, what if I bought one side and asked for owner finance on the other?

This would greatly increase money put down on the principle payment but I don't know if it would work? Also would want to make the deal enticing fro the owner and not sure how I would do that!

Any response is appreciated!