Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
How to structure an owner finance deal out of state?
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!