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Updated over 3 years ago,
Does this deal still work?
Hey BP community,
I have a seller offering owner-finance for four units: a 3/2 double-wide, a 2/1 SF and an up-down (2/1 and 1/1) with a great three car garage. I've negotiated down to $202,500 for 20 years with 2.5% interest. But, it doesn't cashflow well because rents are low (just raised, but the properties are odd and don't garner top dollar) and the utilities are high (expensive to re-meter; owner is responsible for expenses). My question is: since I am able to get the properties at such a discount, is it worth it to buy now even though it won't cashflow well for a few years (after I can raise the rents a few times)? Thanks!