Posted by Steve W (WA) on February 27, 2002 at 08:08:13:
Depends on what the market will bear - and remember that most buyers only are concerned about (a) how much down, and (b) monthly payment. You can structure whatever you want by changing interest and/or length of loan. Go with the formula: 13%, their monthly payment, their downpayment (be negotiable, if they are reasonable - I love that part!), and figure the length of loan to double your investment.
$350 lot rent, figure a low payment so they can do it:
That makes the N to be 36.47, so now round it off:
and tweak the interest, I get 12.25.
Work the numbers to get what you want -
We all wish you luck - go get 'em girl!