Zero Down Seller Finance

[Greg Todrank]

I'm working a zero down, seller finance deal right now. If he doesn't come off his asking price, I'll lose about $17,000 in the first 5 years. But I'll own almost $1M in 8 properties. Spreading my down payment over those 5 years seems like a no brainer to me. My main concern is making sure I don't pay more than I can refi after 5 years (appraisal by the bank) -- other than that, I'm not finding any dang reason to not jump in immediately. Please share anything you can think of that I should be considering -- this is my first owner finance deal.

One other issue is that he has a realtor, I have an agent. How the heck do we get together and hammer this out and then just tell our agents what we decided? Too many chefs right now.