Trying to get Seller financing!
Hello BP. I am currently looking a deal where the owner has 6 different properties he wants to sell, essentially his whole portfolio. I want to propose him to seller finance me 2 of them. The pros would be obviously less capital gains which might help when he sells the rest of the properties, a steady income for his retirement. What else can I use to sell him on doing seller finance. I am working through a broker as well, trying to get him on board is big too. Would the broker still get paid his commission? I want to offer 10% down on two properties (2-4plex). What would you think is a fair interest rate? How do you work out what the payment will be? If anyone has questions for me or questions I should ask please fire them away. I am hoping to get an offer to them in the next 10 days.
#firsttimers