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Updated almost 10 years ago,

User Stats

16
Posts
17
Votes
Mike Smith
  • Dayton, OH
17
Votes |
16
Posts

Anyone have any offer/terms recommendations?

Mike Smith
  • Dayton, OH
Posted

Hi,

I own a single family home rental property in Ohio that I live near.  The property next to it is going to be sold.  The price is approximately 128K.  I would like to purchase this property and have it paid off in 15 years.  I have about 30K that I can put down.  I can charge about 1K per month in rent.

The seller has not listed the property yet.

I would like to purchase this without using bank financing and paying 200K or whatever (with interest) and closing costs, etc. 

I don't really have any experience doing any deals so I'm not really sure what kind of offer/terms I could propose to the seller that would make it worth his while.

Does anyone have any ideas/recommendations?

Thanks in advance!