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General Real Estate Investing

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Anthony Middleton
  • Columbia, Sc
9
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19
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Owner financing examples are needed.

Anthony Middleton
  • Columbia, Sc
Posted Jun 18 2021, 06:07

I would like to negotiate owner financing terms with a seller but I dont know how to quite go about it. Asking price is 160k for duplex. Im thinking offering 3% down payment, pay mortgage and insurance to onwer for 3 or 4 years then gain 20% equity in property. After gaining 20% equity refinance with bank or credit union. Does these numbers or idea make sense?

160k asking

3%dwn payment to owner

4% interest / 30yrs

Mortgage $741

I was told house was appraised at 170k but i will verify myself.

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