Posted by David Alexander on January 17, 2000 at 12:05:09:
If the numbers you say are right then yeah it’s a deal I’d do, dont know if I’d buy it on a contract though.
Now with that said I would trying to get as much cash down as possible to get all my cash back.
Is it in an area where you can get 3,5,10% down? How much of your cash can you get back. At what interest rate are you buying, what interest rate can you sell?
Mind you if I did this deal I would raise the price a hair above FMV becuase I would be selling with financing.
Also Is there any underlying financing, I would want to know if my seller is trying to wrap some financing(probably wouldnt do the deal if there is underlying financing). I would prefer not to buy on contract if at all possible that way you can maintain control.