Purchase Of a Storage Business and 3 Lots - 1.4 million$ Help

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So I was recently contacted by a Mini storage company that was looking to get out of the business. The business includes a few different lots and mini storage / sea can units. The company makes around 200k per year in gross revenue. They are asking around 1.4 million for the property and business. They will entertain a 1/2 seller financing but I am unsure on how this works, I have been following a lot of bp and never really heard how it works when only a portion is seller financed. the other issue is how much the bank will require being that it is technically a business not just real estate property.

Has anyone every gone through this before. Totally new to this one. I believe the valuation of the land and business is fair I just don't know how to go about getting 400,000$ for my down payment.

Any feedback would be awesome 

Thanks in advance.


You need an NOI to analyze this deal. It shouldn't be that difficult to structure a deal when seller will finance half. You need to know their debt, terms of debt, motivation, and where the debt is on each property. After you gather more information, then you can figure out how to buy. For example, if there is no debt, offer to pay cash for the bigger one if they carry the others. Then simply quick sale the first one before close.