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Updated about 5 years ago,
Advice on Seller financing??
So if you’re looking at a deal and the cash to buy could make the margins tight with a high rehab budget. Would you advise going seller financing paying very little per month rehab the property and then down the line pay the seller off?
Not sure just running through some ideas. I saw a property last month with a questionable arv that needs a major rehab but the purchase price is low and the seller doesn’t want to budge off of his number. He price doesnt fit our 70% rule. But with the arv being questionable I wondered it doing seller financing paying 150ish a month would make the deal worth it.
If you need numbers to have a better idea:
Purchase price 49k
Repairs 130k
Arv 200-250k rented (zoned for two units looking to make it into a 3)
Thanks !