Offering owner financing?
I have a property that I just started advertising to wholesale.
My price is 5,600.
My advertised price is 14,600.
Could I purchase the property cash, and offer seller financing w/ 3k downpayment. 10% interest, interest only payments, and a 1 or 2 yr balloon? Or somethings similar?
What do those of you who offer owner fi, do?
I've never thought about this before, but I could feasibly purchase it, and if I can get half my investment back, I would gladly do so. plus earn interest off the bat.
Thoughts?