need advice for first possible no money down deal. - Posted by Travis Allen


#1

Posted by Travis Allen on December 09, 1998 at 13:18:20:

I found a 4 unit for sale. The sellers mortgage balance is
$113,000. The seller is very motivated. He’s retired and just wants out of the prperty, but he wants to sell for $117,000
so that he can pay his realtor. The property is fully rented and the sellers agent says he has a $500 monthly positive cash flow. Due to my credit I cannot get a mortgage. Can someone please give an example of an offer that I can present to the seller and his agent to aquire this property through owner financing and make it a win, win, win situation for all three parties?

PS. any advice on pulling cash out at closing will be helpful
as well.