How to Buy a Seller Financing Apartment

  

Do you want to buy an apartment to rent out but are not sure if you can get a bank loan for one? Are you looking into other ways of buying an apartment, but none have been very successful?

If so, why not look into a seller financing apartment apartment instead. These types of apartments can be great ways to be able to afford the rental property you want, and yet will not tie you to a high interest mortgage.

What is a seller financing apartment? -- This is an apartment that has been bought by someone else. Much of the time the apartment was originally bought so that it could be renovated and then re-sold.

The person who owns it either owns it outright or has a mortgage on it himself. He then puts it on the market for sale and tells the person who desires to buy it that he will give them a loan. This is a seller financed apartment, and can be a good way to get the property you want, especially if the seller is offering a low interest loan.

Why does a seller financing apartment exist? -- People do this because it can be a great way to make money by two different methods.

First, they buy an apartment and renovate it and then they sell it. The first way they make money is from the sale itself, and from the higher price they are charging compared to what they paid.

The second way of making money with a seller financing apartment is by providing a loan to the person who desires to buy it. They then recoup the cost of the apartment plus the profit for renovating it. They also make money on the interest rate they charge on the loan they give the buyer.