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Updated over 4 years ago,

User Stats

281
Posts
128
Votes
Stephen Jones
  • Rental Property Investor
  • Illinois
128
Votes |
281
Posts

Is this a good seller financing deal?

Stephen Jones
  • Rental Property Investor
  • Illinois
Posted

Good Morning BP,

I have a seller financing deal in place on a 6 plex property that I'd like your opinion on. Here are the terms:

     -washer/dryer hookup

     - 1 Bedroom/1 Bathroom 

     - Roughly 550 Sq Ft.          

Purchase Price- 290,000.00$

Yearly Rent Roll- 42,840.00$

Yearly Expenses-

Trash-1200.00$

Tenant water- 2800.00$

Taxes- 4700.00$

Insurance- 2000.00$

Seller Financing terms- 

10% Downpayment

3 year balloon

25 year amortization 

5 % interest rate

What does everyone thing? Should I try and re structure this? Or do you think this is a decent deal? Thanks!!

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