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Updated about 4 hours ago on . Most recent reply

Newbie looking for advice on seller financing
I am interested in purchasing my first multi-family property. This would be my first seller-financed deal. The property that has five units in a recently remodeled home. I can secure the financing, but would struggle with the down payment funds. They are asking $350K. What kind of offer can I propose to entice the seller to seller finance it for me? My assumption would be to offer full asking price, an interest rate around 5-6%, shorter term with balloon payment after 5 years, and monthly payment around half the rent income ($2K). Any help is appreciated!