Seller Finance and Subject2

[Annalie Cao]

Hi all,

I have this property located in Huntington Beach, CA and the owner is willing to do seller finance of 1.2 mil with a 2 years balloon payment. He still have a mortgage of 800k, and his equity is 400k. He wanted 200k down payment which is 17%, and no interest. How can I structure this deal better to use as vacation home. It's currently making roughly $77,300 in gross income for 2023 number with an uncompleted dirt backyard, if I add a nicer backyard with jacuzzi and more backyard activities

[Jay Hinrichs]

Quote from @Joe Homs:

@Annalie Cao this is a subject to deal waiting to happen. You would take the mortgage of $800K subject to, seller financing of the $200K for 2 years and put $200K down on the deal. I hope your ARV is more than $1.2, but it sounds like you want to use this as a short-term rental. In 2 years, all you need to come up with is $200K?

Good Investing...

being in CA the seller most likely if they are smart with do an AITD not a second.