Seller financing help needed
I am currently looking at an apartment and in negotiation about possible seller financing. I am new to all REI so I am looking for anyone that has expertise in that world of financing, or to be pointed in the direction of someone that is.
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#1 Creative Real Estate Financing Contributor
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@Will Stewart are you examining just 1 apartment unit? Or an entire apartment complex?
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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You're going to have to convince the seller why it's the best option for them. Propose an interest rate that is unbeatable, they will make better returns than if they put teir money in the stock market or anywhere else. You take care of maintenance, taxes, and any property BS.
Quote from @Andrew Postell:
@Will Stewart are you examining just 1 apartment unit? Or an entire apartment complex?
Andrew! First, thank you for your service. Both of my grandfather's were military and it is an awesome service you and all the others have given. Second, it is just a single unit in a college apartment complex. I have a 14 year old daughter that has her heart set on going to this school and I thought it would be best to just go ahead and purchase an apartment and rent it until she goes, if she even ends up there.
Quote from @Eliott Elias:
You're going to have to convince the seller why it's the best option for them. Propose an interest rate that is unbeatable, they will make better returns than if they put teir money in the stock market or anywhere else. You take care of maintenance, taxes, and any property BS.
Eliott, I am very new to all of this. I am trying to learn all the ins and outs of seller financing. As of now, I am having trouble making my numbers work but I continue to adjust them in an attempt to. Maybe that is to my detriment lol. Thank you again for your reply.
I reached out privately in case you'd rather not share details of your deal here - but if you'd like to share a bit in the forum, I and others I sure would be happy to help. That way others may learn as well.