[Winning]

Let 1st establish the facts..

• My vantage 3.0 credit score is 796.
• I flat out own my primary residence. with no helocs, or any other liens/loans against it.
• I have never invested in real estate other than in my own home I own.
• I am located in Dallas Fort Worth Texas metroplex.
• I am a business owner (no mca's, no loans of any type in my business name)
• The business I own has nothing to do with real estate (I have no experience in Real Estate investing).
• My business lease about 1700sqft from a "Land Lord".
• I am the "Land Lord's" biggest tenant, and have been his tenant for over 6 years.
• The "Land Lord" would like to retire, and has offered me the option of buying the entire commercial property.
• The current "Land Lord" is the same person that actually built the commercial property in 2003.
• The property is completely rented out.
• The property is 9900 square feet.
• His 1st offer he presented to me was to purchase the property for 1.19 million dollars (seller finance).
• When I looked over his total revenue and expenses, I calculated it to be an 8 Cap.
• The "seller finance" details... He is asking for 20% down and he would finance the remaining 80% principal for 20 years at 5.5 percent.

So based off the existing relationship I have with the Land Lord, the offer he has extended me is a no stip/no documentation owner finance option.. I just need to come up with the 20%.

But just cause he offered me that, doesn't mean that is the best deal available to me.

So I need to explore all my options on how I could get this done and the cost. So that I can properly evaluate what my Cap rate would be if I do this.

I have seen a few people here tell posters that should post on scotsmanguide.com, which I plan to do as well to assist me with figuring out, and understanding all my options also.

I understand just because the current "Land Lord" cap rate is 8, doesn't mean mine will be 8 once i factor in the cost of the money i need to borrow.

I am not interested in buying some property to break even every month, and only be looking to make money via the equity when I sell it later.