All Forum Posts by: Molly Wenske

They are no longer interested in being landlords.  It has now sat vacant in disarray for a few years now.  Needs to be cleaned out and fully gutted, and as they're now in their 70's with health issues it's not something they want to take on.  In addition to this, the property taxes doubled this year, making the idea of offloading it really attractive right now.  I believe their priority is cash flow.

I am currently asking them if they have a number in mind, but after walking the property and running my numbers my thought is to offer them 90k total - $750 per month at 3% interest over a 10 year period after which point I will pay off the remaining balance in a lump sum.  My "down payment" would be to take care of clearing it all out - the physical labor and overall hassle as they've been using the garage as storage and they don't want to sell 'as is' because they still want their stuff!  And they need to move their stuff but don't have the physicality to do it themselves.

I am putting together an offer to purchase a family friend's investment property. This would be an off-market deal, and I'm aiming for seller financing. How would you present an offer in this situation? Is there a template for how I should spell things out? A list of terms I should be sure to address?

I will bring in a lawyer when the time comes to draw up a contract, but I'd love some advice on how to very first present my offer to them!