What % to buy a rent to own note?

[Kale Stephens]

I met a guy who inherited 3 rental properties and 2 rent to own properties. His dad was a slum lord in Abilene, TX. These houses are all in rough shape, but seem like a great opportunity for some BRRR properties. The two properties that are rent to own have about 4 of the 8 years left on the note. The contract has a set monthly payment, and does not state what the interest rate on the note is. In this case It seems like I am buying the note, not the property, so I feel like my offer should be based on buying the remaining 4 years of the note. What percentage should I offer and how do I justify that to the seller? Thanks, Kale

[Brandon Pierce]

Kale,

I am new to whole investor/ buy and hold thing (as I only have one property currently and just purchased a ROUGH condition home from the city here  in Abilene) so if the price is right...I may be interested in at least one of the homes you may have available! If interested then let me know. Again, I'm not going to sugar coat the fact that my budget is small but my wife and I are dependable. (Dang near perfect credit, never late on any payments, married 10 years prior to having our first baby ect) I was born and raised here and would like to build a portfolio here as well so like I said, if you can give me a round about what you consider a fair deal for both of us...I'm all ears! Thanks and good luck either way!