Craigslist Ad With a Hook

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Ad yesterday on Craigslist offering $50k down.

I thought it was interesting enough to pull up the ad and read it. Additional info, offering $3,000 a month for 10 years, interest at 5%.

I was interested enough to run amortization to see how much he could afford to spend. (about $300k, unless he expects taxes and insurance to be included in the 3k a month payment.)

I am not going to contact him. I have no idea if it is a legitimate offer or if he is some sort of guru graduate looking to pick up subject-to's or to make up a buyer's list, or whatever.

At any rate, I'm both jaded and suspicious, and he got me to look. So whatever it is that he is doing, I suspect he got a decent enough response. It's not actually a good price for the seller, but most home owner type people just see the numbers and don't really understand if it is a good deal or not.