HELP? Possible deals I dont want to pass me by....

[Amanda Cadena]

I recently created a posting on craigslist that attracted many home owners that are selling.

I want to offer these homeowners a creative financing deal, but do not know  where to start. This is still all so new, but I do not want the fear of the unknown to keep me from doing my first deal.

For example one of the homeowners that contacted me is a lady who is selling her home for a firm $295,000. It is a 3 bedroom 2.5 bath located in Palmdale... it is a beautiful home. When I asked her what type of offer she was interested in receiving she stated, "financed, cash, or assume our current loan at 4.5% with 10,000 cash ( balance $285000)". They pay $1513 per month for their mortgage and impounds are $1,800 twice a year.

Would it be smart to assume their loan and then find a renter to make the payments at 1,600?

HELP!?