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$140000 / 6br - Investors LOOK - Owner Financing - Low $ Down on 2 Family (Capital District)
Two Family Home is fully rented with quality tenants. One tenant has been there for 30+ years. Tenants pay all utilities including heating, electric and hot water charges. Landlord pays for trash removal, water/sewer charges and exterior maintenance. Interior of units in nice shape, have washer/dryer hook-ups and exterior could use a fresh coat of paint. Many upgrades include new furnaces and hot water heaters. Gross Income is $1,400 per month for both apartment units.
Terms - I am looking to sell the property for $140,000. I have another 2 family home a couple blocks away and I will sell for a package deal of $135,000 each or $270,000 for the total package. I'll finance up to $250,000 on a purchase price of $270,000 for both buildings. My terms are FIRM and non-negotiable.
So I am looking for $140,000 for this particular 2 family building and I am willing to finance approximately $125,000 on a Land Contract at 4% interest, 30 year amortization and 5-7 year balloon payment. There is no pre-payment penalty. You can't get these terms at any Bank on the Street. These are great financing terms to enhance your monthly cash flow and build equity over time.
I will require examination of a current tri-bureau credit report and want to know if you have prior real estate property management experience.
I will consider someone with fair credit if you have a reasonable explanation of your credit history issues. This is an excellent opportunity to buy an income producing property with little money down and save substantially on closing costs.
Please provide your complete contact information including name, phone number, email address and the best time to contact you. I will provide financial data to you and additional pictures.
I will not arbitrarily show the properties to just anyone and disturb the tenants for tire kickers. You must demonstrate you have the required cash down payment, share a current credit report with me and close in reasonable period of time. Serious Real Estate Investors Only.
- do NOT contact me with unsolicited services or offers