My name is Evan and I am a 22 year old looking to get into investing in real estate. I’m in the beginning stages of my journey, and learning the ropes.
I had a family friend offer me something very interesting the other day. She offered to seller finance the house she is selling (2 bed, 2 bath) listed for 285k right now.
I’m just curious if this is a good route to take for my first deal? I know I will have to run proper numbers, but is seller financing a good starter option?
It's a great option! I've done a few myself and was able to negotiate a lower down payment and lower rates than what the bank required. No appraisal necessary, less paperwork.
Here's a BP podcast where a kid bought 81 units, starting out with no money down and seller financing: