Is there a way to obtain a duplex with no money down, seller financing? Needs some work. I tried using the rental property calculator and may have been off with the numbers under the rental and purchase info. Please help.
The property: 15 W Plumstead Ave, Lansdowne, PA 19050
A breakdown would be much appreciated.
@Ayodeji Kuponiyi sure, seller financing is very possible but only some sellers will offer. I think, unless you know the seller or have something to offer, no money down will be quite difficult. Not impossible but again it will depend on the seller. I'd never sell one with no money down. I need some cash to make sure someone is serious and for potential damages, the risk id be taking, etc.
I agree with Jedd. Unless you have a very motivated seller, who just wants out, it'll be difficult to obtain 100% seller financing, but it does happen. A down payment of any kind shows the seller that you're committed to the deal. But most importantly, you have to be sure that the numbers work on the deal. Even if the seller is willing to carry 100% of the purchase price and considering the terms, will it cash-flow or will you be losing money, and ultimately the property back to the seller?
To my rookie eye this does look like a nice property. How much do you expect it to rent for?
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