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? 

All things considered, on the market for months, its now winter time, cold weather, holidays, and dark at 5 pm, not prime selling time, I offered $250,000. 

I had a mentor who stressed "you make your money when you buy"; the next place you get, be sure to haggle big time - and walk away if the price is not low enough.

We work with people in your shoes all the time. 

It just takes time for most investors to become “rich” off real estate.

Documents off Google never work, as I tried...too many times.

Quote from @Ashish Acharya: @Niklas Zhu If you tear down your STR in 2025 and convert it to personal use, depreciation recapture does not occur at the time of conversion.

I currently work at Tesla part time and could refer you to a position if you are interested!

Interest always paid on time, and principal was returned with bonus right on schedule.

Knowing where you stand at all times means you can scale confidently and with precisionI’d love to hear from you!