Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago on . Most recent reply

User Stats

109
Posts
59
Votes
Rob Jones
  • Rental Property Investor
  • Raleigh, NC
59
Votes |
109
Posts

Is this a good deal??

Rob Jones
  • Rental Property Investor
  • Raleigh, NC
Posted
Hello fellow BP'ers--- I'm in the process of looking over a deal in my home town of Greenville, NC. It is a town home, 3 bed and 2.5 bath. Tax value of the property is almost $95k(if that really means anything). The seller is offering financing and I am wanting some input as to how/if it would work. Details below... Sale Price:$89k Down Payment:$5k Financed:$84k Rate:5% Term:15 years Taxes:$1300/year Insurance:$350/year HOA:$30/month Owner says he has had no problem renting it out for $850/month. He is an older guy and lives away from the property(he bought the place for his daughter when she was in college in '05 for $99.5k). I am currently holding 2 mortgages for properties that I am renting so the seller financing is very attractive to me. I also don't have 25% for a down payment so that is another reason I am steering away from conventional financing. My question is, how could I get creative with this offer in order to cash flow the property at $200-300 per month or more? What and how could I negotiate with the seller to make it attractive for both parties? Any help would be appreciated!

Loading replies...