Updated about 3 years ago on .
Seller Financing Deal
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $450,000
Cash invested: $67,500
This was my first investment property! We were able to negotiate seller financing terms, since the owner is older and had the property free and clear.
What made you interested in investing in this type of deal?
We were able to come to the table with less money than a traditional loan
How did you find this deal and how did you negotiate it?
A connection with another local realtor, he knew we wanted seller financing and he identified this deal for us
How did you finance this deal?
15% down cash
How did you add value to the deal?
We have renovated 50% of the units and raised rents
Lessons learned? Challenges?
This is our first time working with subsidy programs. There were a lot of hoops to jump through but it has been a rewarding process. Also, we learned to require the seller to provide proof of monthly rental income!