Seller Financing Opportunity

[Max Feinberg]

Hello Everyone!

So I have an interesting idea that I would like an opinion on. I am a realtor in the Pittsburgh area and I just met a client who really wants to buy a home, but has a very low credit score as well as minimal money for a down payment. This woman and her husband are extremely nice people and apparently have a had a pretty tough past. For this reason, I would love to help them achieve their dream of home ownership in any way that I can.

Just today, she sent me a $38,000 dollar house which is in a decent area, but only able to accept cash and conventional financing which they are obviously unable to do. My thought/question is this...if I could purchase this property in cash myself and offer them an owner financing situation, what would be the best way to structure this? I do some investing myself on top of my real estate business, but have never done anything with owner financing. How would you set up a deal where they do not have to pay much down and I am able to make a reasonable cash flow (nothing crazy obviously on a $38,000 deal).

Anybody with experience in this area is welcome to chime in!