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Updated 10 months ago on . Most recent reply

User Stats

8
Posts
2
Votes
Brendan Davis
  • New to Real Estate
  • Waverly, OH
2
Votes |
8
Posts

Need Help Analyzing This Property!

Brendan Davis
  • New to Real Estate
  • Waverly, OH
Posted

Hello all; in my hometown there has been a property go up recently. What you’re looking at is what use to be a duplex. I looked at it when it was still a duplex about three years ago and it was in more than rough shape. It sat for years and even after the remodel, it’s still sitting. Oh, it got remodeled into a single family. 
Granted this post is all about assuming if the seller would do seller financing. That’s another task in itself if I was to continue since I’m completely new to this. 
What needs to be analyzed or good rule of thumb to get properties with seller financing? What I know about this house is that there should be no mortgage (messaged realtor to verify), last sold for $60k in 2004.
Rent in my area; $1,200 is usually pushing it but doable.
https://www.realtor.com/realestateandhomes-detail/200-Walnut...

At the end of the day, I love the idea of seller financing but I have many more questions when it comes to different types of properties that might be mortgaged and how does one pay the monthly payments on top of paying the equity to the seller at the same time. That’s a topic for another post tho! 
Trying to get a mental sale in my head with this property I have linked to see what it would be like. 
Thank you all for your valuable time!

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