All Forum Posts by: Carter Knobloch

 That’s a possibility, but I’m not terribly worried about setting up a deal making payments directly to him, as I’ve been working with this guy for a little over 4 years. There’s a level of trust in our supplier-contractor relationship, which I see as another layer of insulation in making a deal work with terms between him and I. I’m thinking the way I’d work it would be something like a relatively low interest seller financing with a balloon payment after 5 or so years.

 Chris, this is exactly what I was thinking. I’m thinking he wants to get out of managing the property, and I can be the answer to that problem of his. He owns this property outright, so that’s where I’m thinking some kind of creative financing deal could work. Not that this matters much, but the way I ran the numbers, I could offer him much above what the market value is for the property. Of course, the value is based from a residential point of view and not a multi-family point of view, so perhaps he finds the property is much more valuable than what Zillow says. I’ll figure this out as I go down the road with this one. Thanks for your input!

Hello all, long time listener (1 year), first time poster! Just to preface my current situation a little bit, I work at an electrical distributor in the area. One of the owners of the contractor that shops with us frequently has a couple rental properties, and he’s been tossing around the idea of getting away from the residential rental space. I’ve been asking him about the property quite often, which is a triplex. One unit is a 3/1 and the other two units are 1/1s. I’ve been using the calculator to play around with what the numbers could look like, and he’s considering working out a land contract deal. I have a feeling that if I can give him really good concessions from my part, he’ll be willing to work out a no-money down deal with me. How often should I pursue working out a deal with him on this property? He’s very much over the fence about it right now, but I’m still pretty excited by the thought of it. Any pointers or advice would be greatly appreciated!! Happy investing!