How I Purchased a 4 Unit Multi Family Property with Seller Financing



How did I buy this 4 Unit Multi family property with seller financing? Seller and owner financing are terms that you often hear, but that doesn’t mean everyone …



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Post Author: April Crossley

23 thoughts on “How I Purchased a 4 Unit Multi Family Property with Seller Financing

  • April Crossley

    (October 11, 2020 - 11:19 pm)

    Have you done any seller financed deals yet? Let me know down in the comments!

    jdjewellpa

    (October 11, 2020 - 11:19 pm)

    Anyone have any idea how this would play out and be structured if there was no rehab involved? I have a very similar deal brewing right now, and I'm trying to figure out the best owner financing scenario. The building and the units are all in very good condition.

    jdjewellpa

    (October 11, 2020 - 11:19 pm)

    5:03 You forgot about the barber, the unemployed plumber, the father in law, the grocery bagger, and the 3 regulars that sit at the bar each day. They are all Real Estate experts that will be consulted as well… It's mind numbing

    Marsias C

    (October 11, 2020 - 11:19 pm)

    April, you said , ' the deed transfer', before the 5 year term ,where did you have the documents processed , was it your attorney ? Also
    , was it recorded in the court ?

    Macio Luko

    (October 11, 2020 - 11:19 pm)

    So an older gentleman agreed to a 30 year term? What's the clause in the loan in the event of his passing?
    @18:18 So is it 5 years or 30 years? Yeah, I don't think anyone in their old age with a sane head would agree to 30…
    @13:20 Images would be really helpful here.

  • nic g

    (October 11, 2020 - 11:19 pm)

    But can you refinance with a bank? while doing the seller financing?

    Roger l

    (October 11, 2020 - 11:19 pm)

    Like the video!!! So I notice you said you have your tenant's pay online how did you set that up? Also if they dt paynon the 1 st what is your next step since no late fees….

    Kiersten Vogt

    (October 11, 2020 - 11:19 pm)

    Thank you so much for this video… I have been bingeing on your videos all morning. (P.S. I love that sweater)

    R Cruz

    (October 11, 2020 - 11:19 pm)

    Seller is willing to seller finance 50k on his property that he owns outright. Can I use that to complete my downpayment?

    BCraig Holdingsllc

    (October 11, 2020 - 11:19 pm)

    Can you teach me. I'm about to retire from the army and really need help learning how to do this

  • Arup Bhanja

    (October 11, 2020 - 11:19 pm)

    Great points. I'm about to start seller financing and going to visit property tomorrow.

    Victor Oben

    (October 11, 2020 - 11:19 pm)

    What about property management? Shouldn't you account for that too?

    Business Finance Coach

    (October 11, 2020 - 11:19 pm)

    that's a conflict of interest – for your attorney to represent both parties – obviously it probably is better for him to sell… that's dick to not have a washer and dryer – "we take really good care of our tenants" … come on!!! clearly you can't empathize with what a BITCH it is to go to a laundry mat

    bnarly123

    (October 11, 2020 - 11:19 pm)

    If I were the seller, I would INSIST on finance it for the entire 30 years period. He would make an additional $116,569.73 over the 30 year .

    Amily Tseng

    (October 11, 2020 - 11:19 pm)

    Do you normally pay for all the closing cost? What if there’s an agent involved? Do you need to pay attention or negotiate this part?

  • Laura Mateos

    (October 11, 2020 - 11:19 pm)

    How can I get some listings for owner finance?

    Premium fuel only

    (October 11, 2020 - 11:19 pm)

    Thanks for the clear and concice videos, no intros or loud background music.

    Teacher Homie G

    (October 11, 2020 - 11:19 pm)

    $15K down + $30K in rehab = $45K. $32,100/$45K = .71 x 100 = 71% Cash on Cash return! That’s excellent.

    Teacher Homie G

    (October 11, 2020 - 11:19 pm)

    Wait did you say no grace period on rents? Is that even legal? Due on the first, late by the x day is pretty standard in all rental contracts, no?

    Teacher Homie G

    (October 11, 2020 - 11:19 pm)

    Omg…5% rate! Lol! Wow you scored. I’m doing my first seller financed deal. 20% down, 7.5% rate, 30-yr amortized with 5-year balloon. However, the property is in turnkey shape. New roof, HVAC, flooring is new or resurfaced hardwood, new cabinets, painted. So all I have to do is buy a stove and dishwasher for it to be rent ready. Plus I’m closing in three weeks. Purchase price was $75K, down payment is $15K. Using a realtor (2%) because I live in CA and don’t want to fly to Arkansas. So she will be my eyes and ears there. This is how you can get around the out of state situation. Great job getting this property! Glad you had the cash the rehab ready to go.

    Tech CT

    (October 11, 2020 - 11:19 pm)

    Don't open the window… even if it gets very hot.. you must be a very strict landlord… 😉

    Foreign Creations

    (October 11, 2020 - 11:19 pm)

    I’m looking to start out with seller finance and continue to use it as my first options. Some great deals in Texas.

    Oscar Cabarcas

    (October 11, 2020 - 11:19 pm)

    So glad I found your channel! I invest in Brookhaven PA. I've done a lot of seller finance deals but I've always had to come up with a down payment. On average 5-7k on houses under 50k. I'm going to dig into your channel to see what tactics I can use to change that now. I recently decided to do this full time along with wholesaling so my bank options are limited when it comes to refinancing. They treat the self employed like we have the plaque!

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