Looking for creative ideas on financing/ deal structure for my dad's FSBO neighbor

[Gabriel Jordan]

Hi,

As mentioned above, my dad's neighbor bought a place downtown and is looking to offload the property. I naturally raised my hand as interested but don't have the cash to buy it outright (this would be my first rental). Anyone have any recommendations on creative ways to solve this that they have done in the past? I have heard some people talk about assuming their loan but no idea how that works exactly.

Thanks in advance!

Gabe