Buyers approached me to purchase a house in Mississippi that I can get for $40,000 cash. They want me to sell them that house through owner financing factoring in the down payment. With about $20,000 to fix up - the house will be worth between $100 -110K. They will be responsible for all the repairs, taxes & homeowners insurance. They have good income and can easily afford the payments. They plan to rent out their double-wide home (they own free & clear) for $600 month, which will be the same amount they would pay me. I’m just not sure what price I should sell the house to them for.
Nice to meet you here on B/P. Kinda got lost at the first part of your email that says " you can get" I take it you do not own it now, how do you know if you can get it for 40k, do you have it under contract? Then we can go to the second step.
Are you wanting to wholesale this owner finance?
@Jorge De Jesus - Sorry for the late response.
No - I am purchasing the house and holding paper for the buyer.
30% ish off arv. Interest should help get you closer to %85
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