Rate My Deal

[Blaine Johnson]

I would love to hear comments and suggestions and creative counter offers on the following owner financing deal-

6 unit (possible 7th) multi-family property in an older part of community. Old, not run down or "the hood", in a college town of approx. 60k population. Out of state for me but with many family and friends, and frequent visits. To be professionally managed. This is intended as buy and hold, till death do I part, (or outrageous offer) and will have 1 unit as a part time residence for myself in the future.

160,000 purchase price

20k down

6% Interest

10 yr. Balloon for balance remaining

No prepayment penalty after first year

Cap rate at 18 or better...yes 18.

BRRRR?