Buy w/ morgage flip to owner finance

[Matt Laird]

Is it possible to buy a property with a mortgage, rehab it to owner finance it to a buyer. Recoup a majority of the Down payment and charge a few points extra in interest, just to turn around and do it again with the Down payment?

Example "this is an actual property in my market I'm evaluating for a flip"

88,000 purchase 3/2 brick SFH mid 80s build

20% =17,600 down

70400, financed @ 3.5* 15yrs @ 503.28

Rehab $18,500 cash, total out of pocket $36,100

Sale for 140,000

20% = $28,000 down

112,000 owner financed @ 8* 30 yrs @ 821.82 p/month

Cash out of pocket at the end of the deal $8100.00

cash flow of $318.54 first 15 yrs with zero maintenance

only to increase to 821.82 there after.

Are my numbers out of line? what would be the worse case scenario on this deal? Thanks in advance for any suggestions..