Owner Financing Terms
Hello everyone!
I have the opportunity to discuss owner financing terms on a commercial "flex" use, 4,000 sq ft, $565k property.
I am seeking advice on financing terms that would be favorable to all parties, but I do know that the building is vacant and the owners do not owe anything on the property. So from my perspective, it is sitting and they are just losing money paying taxes on it.
It will need some money put into it (~$20k), as well as a lot of time to find the perfect tenant.
I do not wish to put down a large down payment and I do not want a large sum due in 5-10 years down the road. I am new to this commercial space as well as owner financing but I do see that there might just be an opportunity to break into the commercial space for little to no money down.
If anyone has some advice for me on how to present a deal to the owner that will work for both of us, that would be much appreciated.