All Forum Posts by: Aaron Ferguson

I have developed a good relationship with a gentleman who is selling his 70 plus units of various types over the next 5 years.  He believes in me and what my business is about.  He has offered to sale me a 6 unit for 50k less if not more than value and on top of that he says he is open to 20% owner carry financing.  I would like to systematically purchase his properties over the span of 5 years but I only have 50k in cash reserves.  What would you suggest I do to maximize my property potential?  What kind of bank financing should I consider?  

Let’s say the seller has a 500 K property and owes 250 K to the bank. Can I finance the 250 K he owes with the bank and he carry 50% and I pay the remaining 250 K over say a 5 year balloon amortized for 20?

How should I approach owner about creative financing for this multi family property in Colorado?  Listed at 1,350,000.  Owner owes 1,000,000 to the bank and open to creative financing.  I have about 80k in cash reserves.  What is the best way to use little of my cash reserves, make seller feel happy with offer, start generating rental income, and pay little down on the property where all people involved are happy?