Seller Finance Deal Advice

[Jarrell Smith]

I've recently come across an opportunity to acquire a property via seller financing. Instead of renting the home out, I was wondering if it's possible for me to seller finance the house to someone else at a higher price (and rate of interest)?

For example,

I purchase the home from the seller with the following terms:

Price: $70,000
Down Payment: $5,000

$65,000 15 yr Mortgage @ 4.5%

Monthly Payment to Seller: $497.25


Then, sell to an end buyer that would live in the home with the following terms:

Price: $80,000
Down Payment: $10,000

$70,000 10 Yr Mortgage @ 7.0%

Monthly Payment to me: $812.76

Difference between monthly payment to original seller and monthly payment received by me: $315.51.


Is this a deal that could be done?

Thanks in advance!