How to present seller financing to owner on duplex in Atlanta

[Nina Sylvains]

Hey BPers! Hope you all are having an amazing day thus far! 

I am a new investor living in California but looking to invest in Atlanta around the AUC area. I lived in Atlanta for about 8 years and went to school at CAU so I am familiar with the area. I have found a duplex about 10 minutes away from the AUC that was on the market for almost a year and is now off the market. Per the pervious listing, the price was $160,000, each unit is 1/1 and both sides are rented at $500 each. I did some research about rents in the area and I think I should be able to raise the rents to $1000 each ( if this is not correct please let me know. I checked hotpads and craigslist to come to this number). 

So my question is how do I go about presenting the owner with a seller financing option as I'm trying to get this duplex with no/low money down? I would also like suggestions of other options to present to the owner. The podcasts suggest giving the owner financing options to choose from instead of just a yes or no type of deal.  

Also if any investors in the Atlanta area would like to have coffee or lunch (my treat), so I can pick their brain it would be most appreciated!

I LOVE real estate and I'm really excited and don't want to make a stupid move just to get in the game. 

Thanks for your help and support BPers! And happy investing!

[Brian Garrett]

You're going to want to have a realtor pull rental comps to make sure you can get $1k each side.

If you're not able to get the rents up significantly then the deal isn't worth pursuing in my opinion.

Assuming you can raise to $1k each side then I would give the seller a few options like you mentioned.

Pay "X" price if they carry the full note at 0% interest, "X" price if they carry at "X" interest, etc.

But first you have to see if the owner is even open to seller financing. They may just need cash quickly.