Buying properties from family.. Pros/Cons..

[Peter Tomeczko]

Hello everyone..

New pro member & my first post/question.. Woo.. 🤘

My parents are retired and looking to off load their rental properties. They are tired of self managing the properties.

Any suggestions, pros / cons when it comes to..

seller financing?

Buying from family? 😬

I’m proposing a no money down, no interest,15 year mortgage. The house is currently rented month to month but current tenant has been there for 5+ years.

If I can keep conventional banks out of this deal, I can buy another rental in the next couple months. 🤞🏻

Thank you and I look forward to connecting with you all.

Peter T

Chicago, IL