Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont? 

As leases expire and economic conditions shift, the city’s grocery market will likely continue to evolve.

Refinance – property A loan is assumable, “under certain conditions” (verbatim from the clause).

It is in livable condition but needs cosmetic repairs.We are currently paying $1600 on a $220k mortgage and we want to sell and move to this home, but we would only net about $7-10k on the sale of our home. 

One thought was to move the thermostats from the apartments to a single conditioned space and place temperature monitors in each unit to make sure the apartments are at a comfortable level.

The winners in this business don’t wait for perfect conditions—they create them.

Stick to areas with better soil conditions like Frisco, McKinney, and Rockwall, and network with local investors to learn from their experiences.

–Exception: An ADU on a 1-unit subject property that does not comply with the zoning and land-use requirements (illegal zoning) may be eligible under certain conditions. • ADUs that are manufactured homes are allowed under certain conditions.Good luck

Market Conditions Aren’t Always in Your FavorHouse hackers often assume their property will appreciate and rents will rise, but that’s not always guaranteed.

I mean one of these posters was told their "turnkey" property had dangerous sidewalk conditions questioning how "turnkey" the property was and their response was the tenant's don't care about the sidewalks.