All Forum Posts by: Aaron Horn

Hey everybody! So here's the scoop. A friend of mine has enough cash for a full 20% down on our first property with plenty left over for reserves and upgrades. We found a decent duplex that could use a little bit of work and would generate decent cash flow. But that's not why I'm here. His parents recently moved out of their house and into a new nicer house right across the street form their old one. They still own their first house and are renting it out to his sister and her friends in college. It's a 3 bed 1 bath SFH located within walking distance of two colleges. His parents plan on putting it up for sale at the end of the December. I've heard that it's possible to user seller financing so the sellers get paid and the buyers have to put very little or none down. I haven't done a whole lot of research because I figured seller financing would be a few years down the road but the opportunity arose and if it's possible I'm going to take it! Since we have a good relationship with the sellers, convincing them to finance the house for us shouldn't be too difficult if the numbers make sense for us as well as them. If we manage to get the SFH with no money down we can then sink most of our funds into the duplex as well, giving us 3 units instead of just the 2 for the same price. So if it's possible, what's the best way to go about doing this?

@Ron Averill

Thanks Ron I'm definitely going to be asking those questions and I have thought about a few others to ask! You're right that two years is probably a little long and I plan on jumping in as soon as I can, but I'm currently still a full time student so time and money are probably the biggest reasons for me to wait. I don't want to bite off more than I can chew! 

Thank you

Hey Everybody,

Tomorrow I am going to be talking to a real estate agent in my area about purchasing my first investment. I don't plan on purchasing anything for another year or two and he knows this because I still need to learn a lot but I'm just trying to prepare myself. When I do purchase something though, I plan on getting a fourplex and living in it while renting out the other three units. What kind of questions should I ask him to best prepare myself?