Purchasing Multifamily -- Need Help or Suggestions
I am in the process of purchasing a multi-unit property that has six units and a single family house on the property. The current owner wants to owner finance but has a 47k delinquent tax issue with the town. Town will not negotiate. I have offered to purchase the property for 80k. The single family is turn key but the six unit multifamily needs significant repair . Any suggestions or tips on how to purchase this property for 80k, pay the town and put some money in this owners pocket?? I tried some hard money lenders but no one seems interested. The owner is willing to take 50k up front and hold a second for the 30k remainder. I would appreciate any tips or suggestions on how to get this deal closed! The house alone is worth the 80k!