All Forum Posts by: Chantell McCleve

Thanks for your response. 

Yes, the current owner has a balloon payment to pay in order to sale. We knew about this going in but wanted to split the 4-plexes up into 3 individual parcels. We would have used a residential loan for one parcel and owner carried the other two. Sadly the expense and time with the city doesn't work for us or the owner.

Going forward this is our last attempt to put something together. His current balloon loan to be paid is about half of the value for one of the 4-plexes. 

He is willing to owner carry us on the entire amount for all 3 buildings so I was wondering if there is any creative way to structure this type of deal?  

Looking for CREATIVE FINANCING STRUCTURES?

We have the opportunity to purchase 3, 4-plex buildings on one parcel of land. Splitting the parcels is expensive and time consuming (we already talked with the city). 

A commercial loan requires 30% down which we do not have. 

The current owner is willing to owner carry us for the full amount but has a small balloon payment coming due. 

Is there a way to still work owner financing even if the balloon is not paid in full? Would we be able to take it over?

Any suggestions are appreciated. 

Thanks 

Thank you.

I am a First time homebuyer moving to Logan, Utah this summer. I am interested in finding a property that I can house hack. I have never visited the area so am in need of references for Real Estate Agents that know the area well and invest themselves. 
Plus any extra tips!

Thank you