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Updated almost 10 years ago,

User Stats

206
Posts
55
Votes
Nick Versetto
  • Investor
  • Frankfort, IL
55
Votes |
206
Posts

How to change sellers mind to owner finance?

Nick Versetto
  • Investor
  • Frankfort, IL
Posted

I've found a great multifamily that cash flows pretty well but the owner is reluctant to hold a note for a few years.  He's looking for the cash so he can move to a warmer climate for health reasons and is firm not wanting to play bank because he's elderly.  

I haven't tried to spin the benefits of holding the note because I wanted to get some good ideas from the pros!!!!

Asking Price 250k and comes with attached vacant lot

3 units with a 12, 7, and 2 year renter in place and paying their own utilities

Taxes 6300.00

Gross rents 2600.00 per month (could increase to 2900.00)

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