How to finance a deal?

[Frank La Pira]

Hi folks,

My agent recently found 2 off-market properties,  that owner is selling for 23% below the market value in a hot area.  The total value of the properties is 440,000 and they are selling for 330,000.  They both have tenants and the tenants are paying way below market value rents because they got in and rented the apartments 5 years ago and the rents haven't gone up since.  I will say that I am in Europe where the gross rental return for such a property with rent at the right price is about 5%.  Whilst the rental return isn't great the sale of the property will provide a good return.  I have 200k but because of the stupid banking rules in this country, you can only borrow money up until 75 years which means I can only get a 15 year loan. 

I've suggested vendor financing but it's not very popular here and a rare occurrence what other suggestions can you make to finance the property.  

Thanks for your suggestions.

Frank