Package Deal
Hello fellow investors! I can really use some advice on a deal that I'm trying to put together. I have a motivated seller that owns 2 separate properties that are under a blanket mortgage. One is a 4plex and the other a single family home. I had no idea they were under a blanket mortgage until they agreed to allow me to assume the mortgage and then informed me. They are open to selling the single family home with it as well. Knowing that they are open to allowing me to assume the mortgage, what would be the best way to acquire this package deal without doing financing through my bank? Would a lease purchase option make sense? I don't see how they could do seller financing if both properties already have a lien. Please let me know if you have any insight.