I'm Trying To Structure Creative Deal For 8 Unit Building

[Zachary S.]

I have interest in acquiring an 8 unit building which is an approved condo structure and can be sold individually. I would like to use an old but effective
technique to purchase this property. I want to convenience the owner to sell with owner financing, as most people do nowadays I know he's going to want a substantial down payment.

I am going to put the property under contract but make the deal contingent on me selling one to two of the units for the down payment. I'd like to put a time limit of 30 to 45 days and if they can't be sold the deal becomes null and void.

Since the property isn't located in the state of which I live, I'm planning on using a realtor. I'm not sure if a realtor would sign only a 30 to 45 day contract.

I would like to know if anyone on here has made any similar deals and what their success was or if you can offer up suggestions to make this deal work.

Just as a side note, I'm using this method as I'm a younger investor so I don't have a fortune and I still need to build my credit. This peaks my interest as I think it can make this a win-win for everyone involved.