Help me structure an owner finance deal

[Amanda Sutherlin]

Asking price $75K

Will rent for $850

Tax $1000 / yr

Ins $800 / yr

I like a minimum 300 cash flow

I have some money to put down but like everyone else, want to get in with as little down as I can.

[Mark Holencik]

Originally posted by @Amanda Sutherlin:

@James Maher I was trying to run it on 7% was a no go. ugh

 Amanda, you can ask for 0% financing if you want. The interest may mean nothing to the seller. They may just want to sell it and get their asking price with no interest. 

You can ask them to sell you the house for $60,000 at 6% interest for 20years. Tell them they will actually get $103,166. So they will get their $75,000 plus $28,166 extra for holding the mortgage. Your payment is $430. 

If you put any money down that would lower your mortgage payment. $5,000 down would give you a payment of $394.