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Real Estate Deal Analysis & Advice

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Latasha Shipman
  • Tallahassee, FL
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Seller Finance BRRR or ...

Latasha Shipman
  • Tallahassee, FL
Posted Jun 18 2018, 18:07

Scenario: 

Structured a seller finance deal, Terms: $10,000 down, purchase price 32,000, 3 year balloon payment, 6% interest.  

I spent $21,000 in rehab, home has been appraised for $114,000. Although, I have someone who wished to purchase the home through a VA loan, I have denied her because I am more concerned with creating passive income.

My Question:

Found a renter at $875 a month. I am wondering what method can I use to pull this equity out of the home to purchase more homes through owner financing techniques. Can I use the BRRR method? If not, then what method can I use with the consideration that this is an owner finance deal.

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