All Forum Posts by: Akkiemaj Frederick
Akkiemaj Frederick has started 11 posts and replied 13 times.
I am a little confused. I finally lined up a few properties where the owner agrees with seller financing but I'm not sure of the terms that I should agree to. Why would I agree to pay more than the sellers are asking... Same with the bank why would I finance a property thus ending up paying more than its value due to interest?
The property is at 40000 oh, the sellers agreed to 4% down with 6% interest. But how long should I agree to the terms. I definitely don't want to have negative cash flow and want to turn some profit even if it's $100 a month but that would bring me-too about 7 year finance unless I do a balloon payment after a few. Still the process is better than a 30-year FHA but how do we make money if we are paying so much for a property that's not value this much?
Post: Realtor for seller financed
- Posts 13
- Votes 0
Do I need my realtor to make an offer on seller financed properties? I would be making tons of offers to see if the seller would even go for the financing option, so would it be a waste of time for my realtor to do this for me?
How how do I approach a seller with seller financing? I am new to investing and I don't want to appear naive and unreliable.