Hi All,
I have found a 3 family that will generate a cash flow of approximately $600/month. The three tenants are all under contract with federal assistance programs for the next 2 years (two have been there more than 5 years). However, the buyer is an investor who is just selling off some of his properties because he has moved away and I will have to buy at current market value. My questions are: 1. Why do you suppose an investor would sell a property with such a good cash flow?
2. What is the best way to finance a purchase at current market value (the current owner has had the property for 6 years.) - I thought about asking him to finance a portion of it, what interest rate can I expect for seller financing?
Thanks in advance for the assistance.
Art