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Location: Livonia, Michigan, United States

I first became involved with real estate in 1981 when my wife gave me a choice of ballroom dance or real estate classes. I chose real estate, and began buying properties as rental investments. Over the years in working with real estate, I have purchased in excess of 3,500 single-family homes and pick up the name Mr. Lease Option. My web is www.mrleaseoption.com I teach over 40 real estate investment seminars a year, and running investment club www.megaeventingevent.com keeps me on the go.

Sunday, April 20, 2008

Purchasing Apartment Buildings with Seller Financing

There are several ways to finance the purchase of apartment buildings besides traditional financing and conventional mortgages. Seller financing can be a favorable option to both the seller and buyer.

One of the things investors do not think to ask for in purchasing an apartment building is seller financing. There are some sellers who are not open to it because they don’t understand it or they don’t know about how they can reduce their tax liability by accepting monthly payments rather than getting the full payoff up front. They do see a large amount up front, and by taking a carry-back, they continue to receive payments for the next few years. Another advantage is that they continue to see the cash flow from the building without the headache of management and maintenance.

The advantage to the buyer is they are able to purchase the building with less conventional financing. Perhaps they are held back by credit issues and are unable to qualify for the full amount required to buy the building.

This was taken from an interview between Lance Hood from SuccessInsiders.com and Anthony Chara. For access to Anthony Chara’s teleseminars, go to http://www.successinsiders.com/ and click on “ask our experts.”

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SuccessInsiders.com is committed to helping people succeed, both personally and professionally, by providing them with interactive access to an ever growing team of Millionaires and Experts in wealth creation and personal development. By following the guidance and strategies, through interviews, expert Q&A, telecoaching and other resources offered by people who have already succeeded, a person’s chance for success is greatly increased.

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Real Estate, Investment, financing apartment buildings, purchasing apartment buildings, seller financing

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