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Updated over 6 years ago on . Most recent reply

Will Jimenez's profile image
Will Jimenez's profile image
Will Jimenez
  • from Cocoa Beach FL
  • Member since Jul 27, 2018
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Will Jimenez's profile image
Will Jimenez's profile image
Will Jimenez
  • from Cocoa Beach FL
  • Member since Jul 27, 2018
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Will Jimenez
  • Cocoa Beach FL
1
Votes |
19
Posts
General Landlording & Rental Properties

How to Structure an owner financed deal?

Will Jimenez
  • Cocoa Beach FL
Posted

Have an opportunity to buy a property which ARV is between $85K and 90K. Seller has a HELOC of $65K with payments of $645 a month. The house needs approximately $20K worth of renovations and I believe I can rent it for a minimum of $1000 a month with some minor repairs/upgrades.

Here are my thoughts:

Offer $65,000 with a down payment of $5000 and a monthly payment of $400. 

What does everyone think?

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Samir Shahani's profile image
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Samir Shahani
  • Investor
  • from Easton, PA
  • Member since Jan 10, 2017
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Samir Shahani's profile image
Samir Shahani's profile image
Samir Shahani
  • Investor
  • from Easton, PA
  • Member since Jan 10, 2017
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Samir Shahani
  • Investor
  • Easton, PA
102
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131
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Samir Shahani
  • Investor
  • Easton, PA
Replied

If his HELOC is $645/mo , would he accept $400/mo?

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