Updated over 3 years ago on . Most recent reply
Analyzing my first Multi-Family Deal
writing up my first offer on a seller financing deal. I've analyzed it a million times and I am beyond nervous, but I'm going for it! My biggest obstacle is writing this offer with a good enough incentive for the seller to pick me, over the conventional loan that's also on the table. However, I've been told he's willing to take any offers and has mentioned sellers financing is on the table. So, in this scenario what's a good interest rate? It's a 5 unit building. $225k asking. The interest rate and monthly payment are my biggest obstacle to figure out right now.
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Nice @Sarah Castellanos! Way to take action. There are a ton of ways to structure a deal. Do you have a good idea of what the seller is looking for? Higher price vs monthly cashflow? Does he/she need $ now or are they just tired of being a landlord. I think answers to these questions will help you put together an offer that the seller likes.