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Updated over 5 years ago,
Creative strategy to have seller pay down payment on property
Hello BP nation. I just wanted to introduce myself as a new member. My name is Dustin Sikler and I am from Saskatoon, SK, Canada.
I am interested in a property but would like to keep my cash for a BRRR project. I heard on a BP podcast of someone getting the seller to give them the downpayment for the property and then they bank financed it and payed the seller back in 3-5 years at a certain percent per year on interest. I would like to propose this to the seller but want to make sure I present it properly. Could anyone give me any tip on how to present this and generally what kind of interest are they paying the seller and what is the plan to pay them back their money. Also how can you sell it to the seller to make it sound like a good idea?
All feedback is greatly appreciated!!