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Updated over 9 years ago on . Most recent reply
Good deal or bad deal? Low equity
Ok the property is worth $150,000 the owner owes 109,000 the property can rent @ $1500 and the mortgage is at $800 . Would you say deal or no deal ? And how so? Seller wants to profit $10,000 any suggestions ?
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Steve Vaughan
#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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Steve Vaughan#1 Personal Finance Contributor
#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
A quick idea to me would be a 3-yr lease option at $119k with $2,000 option consideration. She'll get the other $8k when the tenant buyer finances it out. Your choice to sandwich or assign. Nice find @Kenneth Scott!