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Updated almost 10 years ago on . Most recent reply

User Stats

9
Posts
1
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Luan Truong
  • Lilburn, GA
1
Votes |
9
Posts

How to structure an owner finance deal out of state?

Luan Truong
  • Lilburn, GA
Posted

Hi BiggerPockets, 

I am looking to buy a property in Pennsylvania and I live in Atlanta. Does anybody have any experience structuring an owner finance deal out of state? The property has 5 units. Four are rented, the fifth unit isn't a fixer upper. The owner is willing to finance this deal, 75k, with 15k down payment, and a monthly payment $750. The property gives off $2000 if 100% rented. This looks like a no brainer to me, but I'm so new at this and very reluctant because it's on another state. Also, I'm due to some constraints, I can't fly over there to see the property myself. How would BP approach this? 


Thanks in advance for all the wisdom and advise! 

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