Hey Drew,I work in the investment space and work with a bunch of hard money lenders and the typical rates I'm seeing from them are around 11-12% right now with a 1% origination fee.

It's challenging especially locally these days with today's interest rates.

Although you plan on having your mother live in the home to start you'll want to assess the home using the current rental rates and values in the area.

Aside from restrictions, the thing that is surprising me is the low cap rates. 

I would look for a bunch of Sub To Deals with 2-3% interest rates ...... then rent out for cash flow and huge equity build up when rates are really low (check out amortization schedules and compare 2-3% vs 6-7% with the same balance and length of time - check out the principal portion each month - the lower the rate the higher amount goes to principal PLUS better cash flow).

But you can look up vacancy rates on websites like rentcafe or rentometer.  

congrats, what kind of rate did you get on the seller finance?

Approached the seller asking they pay all closing costs, received enough credits to buy down the interest rate back into the 5-range (current rates were in the 7-range).

Approached the seller asking they pay all closing costs, received enough credits to buy down the interest rate back into the 5-range (current rates were in the 7-range).

Hi fellow investors,I have several owner-financed mortgages in my portfolio with interest rates of 10% and higher.