Re: Owner financing?? Could it work?? - Posted by JohnBoy
Posted by JohnBoy on April 07, 2002 at 10:00:20:
You say its worth $80k and she owes $41k.
What you don’t say is what she wants for it or what she will take for it?
You don’t say why she is selling?
What does she NEED out of this?
Before you can think about ways to make a deal you need to know what the seller’s motivation to sell is and what they really NEED out of it.
If they have no motivation then all the different ways to structure a deal isn’t going to do you any good. If there is no motivation to sell then there is no deal.
So far the only thing you’ve told us are things that appear to show she has no motivation to sell other than get cashed out.
If she doesn’t want to sell on a L/O then she isn’t going to want to sell with owner financing. She’s to credit conscious for a L/O? Credit conscious about what? She’s been leasing it for 10 years, so what exactly is she credit conscious about?
Will she take $45k CASH for it??? $50k??? What???
If she sold it out right, what will she do with the money she get’s from it? Does she NEED the money for something else? What?
Will she just stick in the bank and collect 3%?