Your family member is looking at a 2nd mortgage (if that) with 0% equity behind it as a cushion and with 0 principal reduction until payoff.  

Only a day. ha I sent three offers over:  a) full listing price (well now $10k above listing price, he just dropped the price on MLS)  with seller financing terms of 10% down, principal only, monthly payments a little less than what I think he is cash flowing on it now (he owns the building free and clear), and a 3 year balloonb) 90% of listing price on seller financing terms of 10% down, 6% interest, same monthly payment, 5 year balloon. c) bank financing  - 80% list price What bugs me is that the response was immediate and short saying "no seller financing, and a countered with 2% reduction in price.  

I'm most definitely going to ensure that we both come out ahead of the game by splitting the profit, but I'm still unsure how to reasonably finance a deal.Asking him to purchase a house with cash while I cover the miscellaneous expenses would be a pretty tough pill to swallow.

I ended up getting a reduction in price because of the copper plumbing and wiring theft, so I wasn't too upset, just irritated at the additional time it would take for repairs.Then, literally the day after my electrician finished repairing/replacing the damaged wiring, it got broken into again. 

But for 10 years you'll have good cash flow and principal reduction.

I've taken the known payment reduction as well before. 

And if your chat with the seller nets you a price reduction to $450k, you will have turned a 5 cap deal into a 12-14cap deal (depending on your capex and stabilized expenses) That would be a deal worth wrestling, especially if it is in your backyard.

)Consistency and small steps will get you to your goals but it is not as sexy and glittery as the magic pill many want to swallow.Smart work,determination,consistency is the key.

It’s about to get a price reduction that has not yet been made public.You need to qualify the deal right away when it’s brought to you.

Each county and municipality has a different tax rate.Primary residences get a reduction and can be paid in 2 installments.