Multifamily

[Mary Evans]

Hello,

I have always wanted to own multifamily units of 4, 6, 8 or no more than 50. I have knowledge of several that are owner finance by the sellers. Can you tell me how I can get the owners/sellers to do a MLO with a realtor being involved? All advice needed.

[Arlan Potter]

what is the MLO for?

If I knew someone who wanted or would sell real estate with owner financing, I would:

Make a simple purchase/sale agreement.

Make a Promissory note with amount and payment terms.

Print a Mortgage Note to file at courthouse documenting the terms.

Simple