Seller Financing Deal
I am a new investor looking to buy my first official rental property.
I recently found a duplex in an area that interests me that offers 100% seller financing. I found it intriguing as I do not have enough cash on hand to put up a large down payment. However, as it stands, I’m projecting positive cash flow to be low since it is fully occupied for below market rent and I model my expenses fairly aggressively just in case.
My thinking is that this is 100% worth it because I would be able to build equity in it while increasing rent as updates are made and new tenants filter in. A few unknowns are seller’s motivation and quality of bigger ticket items.
Im fine with low income since I’m building equity. As long as the property isn’t a pit, it seems worth it. I’m looking for any advice on this, specifically on seller financing. Is there something I am missing?