Proposing Owner Financing to a friend

[Matty Foley]

My wife and I know a gentleman in his 60’s that owns 30+ residential rental properties, nearly all owned free and clear. All of the properties are currently leased and cash flow nicely. We are close enough to this person that he has discussed leaving a home for us in his inheritance, however I’d like to work on acquiring a property or 2 from in 2020.

My question: other than then him just wanting to help us, what is his benefit to him in selling one of the properties to us with owner financing? He is making income off the property and we would basically be paying the monthly P&I payments with that income. Is there a way to propose this to him that we can add value to him? I’d like it to be fair to both sides, but I’m not sure what he gets out out of it. He’s wealthy enough he doesn’t need the cash that would come from the sale of a property. Any suggestions?