Interested in purchasing my building

[Kaitlin Holmes]

Hey everyone, 
I recently discovered biggerpockets after listening to various investment and real estate podcasts. My boyfriend and I live in a triplex, where we intend to stay for the next 4-5 years. We recently learned that our landlords would be willing to sell the building to us as they are nearing retirement age. I don't think this is an opportunity we can pass up. Hoping to learn all I need to be successful in this journey.

[Mindy Jensen]

Welcome to BiggerPockets, @Kaitlin Holmes.

That is an awesome situation to find yourself in. It doesn't sound like you will have much - if any - competition for the property, which is a great place to be in.

Do they own the property outright? If so, would they consider seller financing? That way they could still have income without having to deal with tenants any longer - and you don't have to come up with the money for the purchase. Win-win.

If seller financing isn't an option, triplexes can qualify for FHA loans, which can be had for as little as 3.5% down.

Good luck. Please keep us updated on the progress.