Updated almost 17 years ago on . Most recent reply
Owner financing
Hey everyone. Have a question to run by you all here. I want to buy a property for around 30k. I want to talk to the current owner (an investor who flipped the property) about doing owner financing. Can someone tell me what a typical deal like this might look like? I don't want to go ask him about this as an option, and then not have a clue how to make this a good deal for both of us. I feel like he would be in total control of how this would work if that was the case. If it helps at all, I plan to buy the property to hold as a rental. Any info will be greatly appreciated. By the way, I want to walk through the home by Friday, and I want to start contacting the owner through the realtor right away, so I hope to hear some advice soon!
Claude
Most Popular Reply
I respect everyone's opinion here, however, my suggestion is to never formulate an opinion about the experience of another Investor based upon one's own expertise. Who better to offer terms than an Investor/Seller? Seems to me from your info, that this Investor/Rehabber is somewhat inexperienced in that he didn't have the buyer in place before he purchased the property. Now he has turned to a agent who also has no buyers ready and has listed it on the MLS. Call the Agent-find out everything you can about the seller/Investor first. A few probing questions should give you an answer to your question?
Matt Mathews
Mathews Associates
Buyer Agent/Investor Specialist