Owner Financing Question

[Sonu Sharma]

Hi fellow investors, One of the wholesalers I deal with has sent me an email with this info. I just got introduced to owner financing concept at a high level but not sure how to work this deal in my favor. I know there is some potential here if I can put in some work. -------- Tenant would like to buy the house with owner financing for $53,500.00 at 10.5% interest. -------- I dont think the seller is foreclosing on this but I am not sure about it. ? I like doing a deal to see how it works without losing lots of money and this property looks like something I can experiment with. I am thinking of asking these questions to the wholesaler to see if this deal makes sense. Can someone who has done something similar suggest what else I should be asking for ? 1) how much is the home worth ? 2) how much equity does the current seller have ? 3) what is his current mortgage interest rate ? 4) any additional liens on the property? 5) are the property taxes paid up to date ? 6) does it need any repairs ? Appreciate all your help !!