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Updated almost 6 years ago on . Most recent reply

User Stats

127
Posts
54
Votes
Nandy B.
  • Rental Property Investor
  • Los Angeles CA
54
Votes |
127
Posts

Is this a good owner finance deal??

Nandy B.
  • Rental Property Investor
  • Los Angeles CA
Posted

Single Family Home

$219,800 4 bd3 ba 1,315 sqft

zestimate 225000

Turn Key - Fully remodelled

Owner financing

$10000 down

10% interest

It will most likely be an STR which will work, but it will definitely not work for a long term rental.

It's less than 2miles from a major airport, and less than 10miles from sports and entertainment.

Is this worth it?

Most Popular Reply

User Stats

13,415
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19,453
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
19,453
Votes |
13,415
Posts
Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

What are the financial numbers on THIS house?  Rent, taxes, insurance, etc...ultimately the cash flow?

Is that 10% simple interest?  Interest only payments?  How long is the financing in place?

Zestimate is worthless.  Don't use it.

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