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Updated over 15 years ago on . Most recent reply

User Stats

207
Posts
33
Votes
Joe Pitrolo
  • Investor
  • Morgantown, WV
33
Votes |
207
Posts

Deal Advice

Joe Pitrolo
  • Investor
  • Morgantown, WV
Posted

I have an 88 3 br on rented lot. I just carpeted it and painted it.
The Lot rent is $160.
I am getting tired of LL, so I've been advertising to owner finance at $9500 with $3000 down, payments around $475 mo. for 2 yrs with small balloon due at end. Payments include lot rent, ins., taxes.
I've gotten a lot of calls, but haven't sold yet.
Is it possible my deal structure is too stringent? Maybe I should ask $1500 down and pymts for 3 yrs?
A lot of folks can't afford the down payment.
I know Lonnie talks about income streams.
Possibly I am too worried about collecting quick.

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