owner financing

[May Kleider]

Hello BP!

Since I had an idea to invest as a buyer on properties with owner financing option, I wonder if is it reasonable to ask for 30 years terms for properties at list prices 200K-300K.

Also I'm not an american citizen so i can't take a loan from the banks, maybe private lender will accept those terms? 

Thanks!

[Rick Pozos]

I usually ask for terms with a 5 year balloon. In 5 years I probably will have other financing options available to me. If I dont, I can always sell the property or ask the owner to extend the term for a couple of years.