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Updated over 7 years ago,

User Stats

7
Posts
3
Votes
Cole Stoneman
  • Investor
  • Farmington, NM
3
Votes |
7
Posts

Am I crazy for doing this deal? I need help analyzing!

Cole Stoneman
  • Investor
  • Farmington, NM
Posted

I have a deal that I need help analyzing.  It's a commercial property on main st. in a town of 50k people. It is a mechanic shop with lifts, ect...Great location

purchase price- 229k with 20% down paid by the person who I'll be renting it to and will be selling to in 3 yrs for 260k.  My financing will be 1300/month amortized over 20 yrs at 5.85 percent interst and the renter/future buyer will pay me 1800/month 17 yr amortization schedule at 6 percent.   I'll hold my opinion back on this as I need another professional to brainstorm this.

No money down as the future buyer will put this down.

500/month net

future sell of 260k  (3yrs). 

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