Is seller financing a viable option?

Question

I came acrossed a property for sale at a very low price and after digging up info on it, found out that seller would like to sell as a package deal. The package includes 23 separate units/houses all 3bd-1ba for $470k. The places are not in bad shape but need cosmetic repairs and other minor repairs. The seller is a older gentleman that just wants to get out from underneath the properties. I have always heard about deals like this where the seller is tired of maintaining the properties and just wants out, so we will see.

Would it even be realistic to offer SF with cash down or at that low of a price should I look into a JV partner or even buy and hold lender??

Keep in mind that I had to read the fine print to find out that the seller wanted to sell with a package deal so either it was a poor job listing it or other reasons.

Would it even be realistic to offer SF with cash down or at that low of a price should I look into a JV partner or even buy and hold lender??

Keep in mind that I had to read the fine print to find out that the seller wanted to sell with a package deal so either it was a poor job listing it or other reasons.

Nathan Alton · Answer

Thank you so much for the advice Ayodeji!  Enjoy your weekend.

Ayodeji Kuponiyi · Answer

@Nathan Alton It wouldn't hurt to JV with someone who is experienced. You can lower your risk and learn while being in the game. If you decide to do it solo, have property manager and real estate attorney look at the properties and see how you can make it work. Best of luck!