Submitted My First Owner-Finance Offer · Small Bay Industrial Basecamp

Submitted My First Owner-Finance Offer

Found this deal where the owner is looking to get $65k for his 1,008sqft warehouse that’s cinderblock construction

Due to a lack of marketing the property has been on market for 31 days with no activity so I’m proposing the Seller finance a portion of the property to get closer to his desired price. I’m confident I can get $900-$950/mo so this is the offer I sent:

-$50k purchase

-$20k down

-Owner finance $30k at 6% with 36 month balloon

-No prepayment penalty and I pay $300/mo

If he accepts I’ll only need around $5k worth of rehab (mostly paint) and I should hit around 22% cash on cash return🔥

$950 - $300 (payment) - $200 (taxes/insurance)

$450 net/mo (21.6% cash on cash)

9 comments

Submitted My First Owner-Finance Offer