Seller Financing Strategies

[Keagan W Poole]

After asking 50+ investors in my area, one finally agreed to seller financing

Here it is: 

12 Unit Complex in a good size city (population 65,000+). I'm only interested in long term multi-family rentals.

Owner said he would offer seller financing for just that property for $250k with a good down payment.

My question here is, how could I present a fair offer to him considering I have bad credit and less than $500. I don't have much info on the property right now, i'm looking to find a good offer for him (if it is a good cash flowing property). This may be too much for me to handle financially at this moment, but i'm all for doing whatever I can before letting something go. So that's why I'm here asking you guys. Any tactics that could work? Higher asking price for a lower down payment?

Help would be appreciated!

[Tim Lindstrom]

It doesn't sound like you have any experience in investing in multi families. If that is true, the only thing you have to offer is the deal itself.

I would find a partner who is familiar with multifamily investing, and can put up the down payment.

Not only does this get your initial funding,  an experienced investor can tell you if the numbers will work on this property.  It might not be a good deal at 250K, so throwing more money at it to make a sweeter offer will sink you for sure.