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Updated over 9 years ago,

User Stats

9
Posts
4
Votes
Spencer B.
  • Springfield, MO
4
Votes |
9
Posts

Owner Finance Deal

Spencer B.
  • Springfield, MO
Posted

I am viewing a property today that looks great on paper but feel like I'm missing something. The owner is asking $329K with 3% down and 6% interest over 20 years.  He prefers to balloon at 5 years.  The property has tenants that are moving out but have been paying $2000 /mo.  I was considering buying the property and marketing the property to a tenant-buyer for a 1-2 yr lease option and asking $345K with 5% down at $2200/mo rent.  My monthly payments would be $1850 to the owner.  I will be clearing all the terms with my attorney before I finalize anything but am I missing something else on this deal?  

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