Seller finance deal
Hey everybody.
I am in conversations with a seller who owns her home free and clear. She initially wanted to do a lease to own on her property. She has agreed to do seller financing on this property at these terms:
Asking 100k
10k down
8% , 30 years. (She said 8% is lowest she would go)
With these numbers I would be paying her $885 a month.
Rents to be conservative would be $1100.
I would have a property manager. So that's $110
That is a cashflow of $105
Do you guys see any other way to structure this deal?
I was hoping she would take less down but If I put less down that means the monthly would be higher..
My goal would be to have a $300 cashflow at a minimum..
I expressed this to her but she didn't seem to want to deviate from the loan calculator that she was using.