Was just offered seller financing.

[Ryan Dossey]

I am in a tricky situation guys and I need some advice. A lead from my DM campaign that I have been looking at as a flip just called me again. Property is in a good neighborhood and the ARV is right at 147-155k. He is asking 120k on mls but I know he accepted an offer for 85k that fell through. (investor decided it needed more work) He is going to take it off the market if it doesn't sell by Sept. We were looking at this as a flip however it is a really good rental area. Our max offer would have been mid 60's with an estimate of around 40-45k in rehab. After hml, interest, and realtor fees we would pocket around 20k in profit. Our long term strategy however is ultimately to buy and hold. With his offer I am thinking that this may be a good one to hang onto.... Rents in the area are in the 12-1300 range and appreciation would definitely occur. This is an A class area. We would have to figure out how to fund the repairs and possibly put in some sweat equity. Ask him to take out a heloc? Or???