Owner Financing Deal

[Kory Clark]

Hello Everyone,

I have been planning to invest in my first deal. My goal is a duplex-fourplex and I'm looking for deals but I have yet to do anything. I found a duplex that the owner was willing to owner finance. He said "$30,000 but he would prefer $35,000 down to carry the financing" The property is $51,900. What do you guys think of this?

[Curt Davis]

My main concern for you is that considering how cheap these homes are you are looking at that you will have nothing but long term issues.  You have to wonder why the owner would want to sell if they are good deals.  Usually people want to sell when they are tired of being a landlord and the things that make them tired are dealing with dirt bag tenants and always fixing the place up because of the quality of tenants.  

Good luck