Properties under 50k

2 Replies

Trying to find real estate under 50k in the philadelphia/nj/de or tristate area is in mass abundance! However trying to find fianacing is a much larger one. I have reservations  regardinh hard money because what if the flip has to turn into a hold because it doesnt sell quickly? So I would think seller financing would be the route to go. A sample deal that would be ideal for me would be to buy a distressed multifamily 2-4 units for 15,000. Put down 1500.00 and pay the owner over a monthly payment with a 4% interest rate over a 48 month period. I get an affordable mortgage rate while im fixing up the property. The owner get a down payment, a monthly payment and makes 1200.00 in interest. But getting the sellers is my problem. The homes are listed through agents and they look at me like I have 4 heads when I mention seller financing  or owner will carry! Any help on finding owners/sellers in my area who would want to do seller fianancing?????

@Makeila Logan Lafate

I am not in your area; however, I have an @information nugget for you.

Look into Kent Clothier re offerings.

Contact @Lendinghome to see if they fit into one of your investing models.

Because the Realtors who you speak of  are not representing you, you can research the properties through public records, gather owner information, then make your offer directly to the owners. (If you are not an agent yourself.)

Also, utilize real estate websites to locate deals in your target areas. Get familiar with the filter, sort, and save features. 

May Your Efforts Be Rewarded!

This has been an information nugget.

Anthony Davis

thanks alot, this informational nugget was a helpful one. It never dawned on me to research the public records for the owners information. I thought  dealing with an agent would be more "professional" to the seller. However the types of properties im looking at arent selling and for a reason. They are problem issues I can tell for the owners. And if I could just reach out to them and let them know Im willing to take this nuisance off their hands and make them money, it would be profitable for all parties!!! Now I have another avenue of trying to contact them! Thanks!