Owner Finance Question

[Jaron Neal]

Im new to investing and have a general question about selling an owner financed property. There is a property in Mammoth, AZ for sale for $25,000 that I can obtain with $5000 down and the owner will carry the rest for 5 years. The property only needs some cosmetic work done, and I am wondering how does the process of selling the property work if I want to sell it before the 5 years. Can I sell it and earn a profit ARV if I am still paying for it through owner financing or do I have to pay the house off completely before I can sell it?

Thanks

Jaron

[Ellis San Jose]

The existing loan gets paid first in escrow, what remains after goes to you.