Updated almost 9 years ago on . Most recent reply
First Time Owner Finance
I am working a deal with a seller who owns a property outright. She's widowed and is 83 years old. The property is listed at 90k but we should be able to negotiate that down. Her realtor says she is open to seller finance if the deal makes sense. I would like to put under 10k down as the property also needs approximately 15k in updating and repairs. Upon completion the total rent of the building we estimate to be around $2K monthly. Any ideas on how I should try to structure/pitch this to her? FYI I would typically consider traditional financing but I am putting down $25K on another property due to close in January.