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Updated about 9 years ago,
Possible first deal! Duplex rental
Hello Bigger Pockets,
Recent member here awaiting a phone call on my first possible deal. FSBO side by side duplex. Super nice in a great neighborhood. Looking to buy it to rent one side out and live in the other. One side is vacant and the other is rented out so it is pretty turn key. Income of 1700 when both sides are rented out (~400 cash flow.) Not sure how I want to try and finance it and probably do not have enough savings to get a conventional mortgage.
Question for you seasoned investors -
I would like to discuss with the owner the possibility of seller financing, but not really sure how to go about it. What are some good questions to ask the seller to get things started on the right foot?
What are some other general questions I should ask about the property to give the impression that I know what I am talking about?
Any advice on how to proceed and make my first deal become a reality would be greatly appreciated. I look forward to seeing what some of you think.
Thanks,
Seth