Need help exploring financing options for block of townhomes

[Beth L.]

So I have the opportunity to purchase a block of six townhomes, less than 15 years old in a good area. I am sure that we could get conventional financing for 75% of the purchase price, but we don't have enough for a 25% down payment.

I don't think that the seller would consider any type of seller financing, since he is elderly and has started to sell off his portfolio.

Plus, if I finance the entire amount, it will not cash flow. While I may be able to raise the rents a little, there is nothing else that I can do to add value.

Seller is asking $650K for the block of six townhomes, but it really needs to be priced at $500K to meet the 1% rule.

These are unchartered waters for me. Any ideas or suggestions that I am not considering here?

[Beth L.]

@Karen Margrave Possibly. Right now we are considering all options.

@Roy N. Thanks for the definition. The word vendor confused me. I think I've heard it just called seller financing. Would that be right?