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Updated almost 8 years ago,

User Stats

28
Posts
18
Votes
Edward Smith
  • Investor
  • Milwaukee, WI
18
Votes |
28
Posts

How Much is Seller Financing Worth?

Edward Smith
  • Investor
  • Milwaukee, WI
Posted

So I found this 2 flat for 54k. He is was willing to owner finance for 63k for 6 years no interest with 8-10k down..... comps in the area comps are 65-75k it would be a 6yr deal monthly payments around $764 not including taxes and insurance for about $250 a month. Both units are rented $800 and $650 a month. Units have been updated roof is 4-5 years old. He even has the garage rented at $200 a month. So I thought this sounds too good to be true. I asked if I can have my inspector walk thru the units and no issues. The next day I get a text that said "hey sorry but I can't sell to you at that price I need at least 75k and 1k a month". Now my spread doesn't look nearly as good. Should I pay an extra 20k for a property that was listed for 54k for owner financing or just walk away? 

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