I put in an offer on a property for seller financing. The owner countered my offer with asking price @ 8% interest on a 5yr term payable at $450 a month,
but he wants me to pay back taxes of $1400 and Realtor's fee of $600 upfront for a total of $2,000 up front. So I am wondering if there is someone on here that would like to put up the 2k as a silent partner, or private lender. In return I can pay you back plus interest when I get it rented, or you can have half of all proffits. If anyone is interested please let me know.
525 allen st
south bend, in 46616
5 bed 2full baths
1973 sq' ft
Asking price is $40,000
I checked on totalview, but it didn't have an estimate, but the average price for a 5 bed in the 46616 zip code is $73,643
Since it would be a rental, it will be worth more than that a few years down the road anyway.
I have attatched a picture of the front of the house.
Thanks to anyone and everyone who considers this.