OfflineSo I am currently working on my second owner financing deal. I found a 5 bed house in South Bend through my realtor. The beauty is I got to create my own terms. My terms are $100 down. Full asking price of 37k, no payments till the enpril or May if I need til May, 6% interest, and monthly payments are $150 a month for the first 6 months then after that I believe they are $179, 5 year term payments are interest only, and loan balance due at the end of the term. The house doesn't need as much work as the first one, and that gives us time to fix it before having to make payments, so we can have it rented by then. We are scheduled to put the $100 down on the 29th of Dec.
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yeah thats what I am talking about sound like good terms thanks for sharing this with all of us.
ba
only 100 down on a 37k house. Are you sure and did you have your attorney check out the purchase offer. Sounds like something is missing. But if it is all correct, GOOD JOB...Jan
He has been trying to sell it for months and origionally wanted alot down but we held out mostly due to lack of having thousands to put down. Now he is desparate and I am the only one who is interested in it. We are going to look at it to actually see what work it needs. From what we have been told so far it doesn't need near as much as the first one I got.
Good for you! Hope everything works out as well as it sounds.
Keep us posted.
Karen
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