Buying Southern California Multi-Unit from Current Landlord

[Kirk Berryman]

I am looking for some creative advice on how to purchase the house I am currently renting.

Here are the details:

• 4 separate units - 1 lot
• zoned/licensed for 5
• Gross rent = 60k/year
• Asking price ~ 800k

I closed on my second rental property in October, which tapped out my capital reserve.  I have enough to put 10% down and was hoping to convince my landlord to carry the other 10. He has not been very responsive to this idea.

I live in California and have been renting for the past 4 years while in search of the right multi-unit property.  I really like where we are living and think it could be a fantastic investment as the town we are in is seeing a major increase in activity.

I am looking for creative advice on how to convince my landlord to work with me or to structure a successful deal.

Any and all thoughts are appreciated.  Thanks!