Owner wanting to sell to me has an issue..thoughts......
A seller is looking at doing owner financing.I would be wrapping his note.
Property insurance is not escrowed so that causes fewer issues.
Sellers main concern is that we owner finance and in say 3 years I get tired and just give the property back to him.I am putting nothing down which he is fine with.
Looking for thoughts and ways to make him feel comfortable with this issue.He owns other classes of assets besides apartments and is focused on them.
I already own a bunch of other buildings in the area and told him I have staff on site so it wouldn't be an issue.This is for a quad building.
Many investors buy with one thing in mind and then sell to you down the road for other reasons.Since I am a commercial broker I have multiple exit strategies already planned out for the property.
- Joel Owens
- Podcast Guest on Show #47
