Creative Purchase Options for Condo I’m Renting (Landlord Wants to Sell)

[Alec Perron]

Hey BP community,

I’m currently renting a condo that my landlord has decided he no longer wants to keep. I’m interested in buying it, but I don’t plan to live here long term. Instead, I’m trying to figure out the smartest way to acquire it as an investment property with minimal upfront costs.

The owner is open to selling, but I’d like to structure something that helps both of us without using a traditional mortgage or rent-to-own setup.

Here’s what I’m thinking:

• Could this be a good candidate for seller financing, subject-to, or another creative structure?
• How can I position this as a win-win to the seller while also giving me flexibility to either rent it out or resell it later?
• What should I watch out for legally or financially when trying to structure a deal like this?

Any advice or examples of similar deals would really help. I’m trying to take action on my first investment deal and want to do it right.

Thanks in advance!

—Alec

[Michael Carbonare]

Keep it simple, Alec. First things first. . .read the HOA's rules and restrictions to determine what is and isn't permitted. Then you can forge a plan.