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Updated over 9 years ago,

User Stats

11
Posts
1
Votes
Jeremy Isaacs
  • Machine Devlopment
  • Centerville, IN
1
Votes |
11
Posts

Creative strategy or just no deal? Help please

Jeremy Isaacs
  • Machine Devlopment
  • Centerville, IN
Posted

Hello all. I'm a newbie looking for advice. Here is the deal:

3 bed 1 bath 1100 sf  ranch style home on a slab foundation with one car attached garage. 7 out of 10 subdivision for the area. 10 out of 10 schools in the area. New roof last year.

Appraised two months ago for 76000

Asking 65000

Approximate rent 650-700

No repairs needed. Very clean. Ready to rent

What I need help with is financing. I've proposed seller financing but was turned down as the owner has a property they want to buy and claim he needs the cash. The owner has a very small mortgage on the property. My next idea is to see if the owner would do partial financing. 

Do I stay after this or is it too risky or not enough meat to buy and hold? 

Thanks for the help

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