Need help structuring a seller finance deal
Greetings! I have a two part question:
1) Is there anyone in the Southern Indiana (Evansville) area that has done or knows someone that has done several seller finance deal? I've had several opportunities come my way that has the potential to be a seller finance deal. I am very interested in going this route and am reaching out to see if anyone can help.
2) I have been working this deal for a little over 6 months. The seller is an older lady who tried to list the property with a realtor but did not have any luck so it is now off the market. She is asking $20,000 for the deal. Will need a few thousand in rehab but can rent for around $800. The only reason she cannot do a seller finance deal is that she is currently living in a rental house that is based on her income. If she reports more income each month then her rent goes up. Has anyone come across this type of situation? My only thought is seeing if she has a family member who I can make the payments to so it does not show up on her income. Is there a legal way to do this Any other options? If you were to structure this deal what would it look like?
Thanks for the help!
Most Popular Reply
Ray, talk me through why you wouldn’t want to buy outright? Couldn’t you brrr a 25k property that rents for 800/month SUPER easy?