Seller Financing to Conventional Financing and more
Say I purchase 4 duplexes through one seller financed loan: 40% down (which is all the cash I can put down) 5% rate, 30 yr am. Although the finance terms aren’t the best, I’m getting the properties in good shape for only about 80% market value. Also, this gives the seller a quick close, and cash to pay off his loan (which is what he ultimately wants). I was wondering if there is a way to refinance the single, seller financed loan into 4 separate conventional loans for better terms and to take cash out. How would that work?