CS Possibilities - Posted by wonderboy
Posted by wonderboy on September 04, 2003 at 18:08:49:
I bought the Carleton Sheets course on ebay. The edition I have is about 3 years old. It’s been very informative, full of information and I enjoy Carleton’s teaching methods.
My question is this: In my area, 3-bdrm homes and similar are selling for roughly $120-$130k. Unfortunately, the average rent for the same setup is about $650-750/mo. Even with no money down techniques, I don’t see how to make this profitable. Even if I was to get a traditional lender to mortgage the property, I’m looking at $950-$1100/mo in house payments at 8 percent, which is conservative for investment loans in my area.
Therefore, if I’m looking at trying to do seller-financing, they’re going to want at least fair market interest rates or more, right? I can certainly see it being feasible if I could get them to carry the majority of the home value in a note at 3% interest… but what seller is going to be this kind??
I’m full of enthusiasm, but I just can’t seem to quite understand how to make a positive cash flow with the area I’m in. Any comments would be appreciated, and please feel free to email me at firstname.lastname@example.org.