Updated over 4 years ago on . Most recent reply
motivated cash seller
so I have a motivated seller who wants to get rid of a duplex that will currently get around an 11% cap rate if bought for the price I have talked them down to. i want to buy and hold the property myself for a good cash flow, but I don't have the money to put an investment loan down payment (20%) on the property. I asked the seller if they would be interested in seller finance or a seller carry-back, but they said they want to use all their proceeds of the sale to pursue another investment. so no seller finance.
Does anyone have any creative solutions that will benefit the seller's situation but allow me to get into the property with 0% down and without using hard money lenders?
Most Popular Reply
I would recommend looking for a partner to go in on the deal together with. It sounds like you want the deal to be 100% yours, which is completely understandable :). But its better to have part of a great deal than let the deal slip through your fingers.
As for creative financing, do you have any friends and family that would be willing to loan you the money?
If it's a duplex, do you have the option to move in? If you move in you might have access to and FHA loan which only requires 3% down, assuming the property does not need a lot of work.