Any Advice for Proposing Seller Financing

[Shane Duncan]

I found an owner that bought three multifamily properties last year with the intention of renovating them, and then keeping them long-term. He got really busy and only was able to renovate one of them now his construction loan term is up and he has to pay full mortgage on all three. He wants to sell the two unrenovated properties and it is all currently off market. I’m not sure what his current loan rate is but a year ago probably puts it in a high-fives or low sixes at the most. Regardless, it could be a substantial savings for me. Does anyone have any advice on how to propose seller financing, assumption, or subject to when I go view the properties tomorrow ? I’m not sure how much equity he has in the properties either. I have a great credit score and solid W-2 earnings so I’m pretty sure I could assume the loan. I just don’t wanna scare him off with any of these offers. He is a motivated seller, but not that motivated. From what I’ve been able to discern, he is fairly wealthy. But no one likes losing money every month on property. Has anyone been in a similar situation?