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Updated over 7 years ago,
Help with Buying a Portfolio via Seller Financing
Team I'm looking for help on putting together a deal with 3 multi family properties. The seller and I are a very good match for eachother and have discussed a deal where I would acquire all 3 properties and seller financing would be available.
Facts: all 3 properties are on ONE loan and I am fairly certain they bought them as a bundle and ALSO used seller financing some years ago. It worked well for them to grow their business and they are savvy enough to appreciated the benefits of holding paper.
My want - What is most important to me is low money down, hopefully 10%, while also ensuring I have good cash flow.
Their need - they are looking to liquidate and retire.
Questions:
How do I go about this negotiation? I will provide a packet as I would a bank to show my income and credit which is very very strong. But where do I go from there on trying to negotiate terms?
Also, how do I structure the deal and loan?
Any help would be great. This is a credible opportunity and one I've worked hard for. I don't want to blow it.