Buying 10 Condos at a discount

[Joseph Duenas]

I'm looking at the possibility of purchasing 10 condos from a single owner that need a lot of work. My plan is to either BRRR them or buy, renovate and flip them. Any recommendations on how to finance the purchase?

[Ken P.]

Do you know how much debt the current owner has on the condos? Depending on the size of the loan and monthly payment, they may be willing to provide owner financing. Condos that need a lot of work may be difficult to finance by conventional means, which could make the owner willing to consider providing the financing themselves. We've bought 22 condos in 3 separate deals via owner financing, so it is possible.