Seller Financed 16-unit with only 8% Down!
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $950,000
Cash invested: $80,000
16 Unit property in Randleman, NC. This is the first deal that I have partnered with someone on. A good friend found this deal, and he wanted to build equity instead of getting an assignment fee, so we decided to partner 50/50 on this one.
We were able to negotiate seller financing with only 8% down and 4% interest on a 26 year fixed term. The property should immediately be worth ~$400,000 more after we bump rents, and should cash flow ~$4,000/month to split between me and my partner.
