@Charles Seaman @Todd Dexheimer @Brooks Rembert Thank you all for the advice!

Welcome to BP @Charles RIchardson.

Hey Charles, welcome to Lynchburg!

Originally posted by @Charles Wilson:Hello everyone!

@Charles LiuI personally do the 20 year on mine.

There are many ways you can recast this deal. first things first, close the deal with attractive seller financing. ask the seller to add settlement cost into the mortgage. consider some of these in your mortgage conditions ( put some or all of these terms in your offer) make sure you understand the value of these clauses - if not, give me a call glad to chat.1. put a subordination clause in the mortgage, this will allow you to get a new first and have the seller financed in second position.2. have a pay-off discount of 5-10% so if you get a new mortgage or sell the house you can discount the seller mortgage, this could save you thousands of dollars.3. have the mortgage secured by another property you own - this will make your property free and clear, now get a new mortgage, keep the proceeds or use it for renovations.4. have a stutter clause, this will allow you to miss one payment a year.5. have a first right of refusal in the mortgage in the event the seller (mortgagee) try to sell the mortgage at a discount, this gives you the option to benefit from the discount.6. the mortgage should be fully assumable without qualification with release of liability. this makes your resale attractive since you have financing built in.7. ask for a delay in making payments (6 months) this will free up some of your cash for renovations. good luck  with it -- Charles

Hi @Devante Charles,These events in North NJ usually have a good turnout for networking. https://www.meetup.com/NJREIGroup/https://www.meetup.com/Hudson-County-Flippers-and-Funders/

@Devante Charles congrats on getting into real estate at such a young age!

@Devante Charles There’s a better way of doing it, if you’re going into the pre-foreclosure market I’d start off with doing some lease options.

@Charles Carillo @Dmitriy FomichenkoThank you both for the links and support!