Question regarding a Duplex

[Rukhsana Saleem]

Looking at a duplex in North L:as Vegas and wanted to understand what does the following mean? 

Completely remodeled and Tenant Occupied. Property being sold with total rents of $1950 per month on 1 year leases.

Owner will carry with 30% down and 2 year balloon at 6.5% amortized over 30 years.

Thank y

[Nathan Gesner]

It means the owner wants to be the bank. They will give you a 30-year mortgage but they require 30% down (banks only require 20 - 25%), they want 6.5% interest (banks are charging around 4%.

This would only make sense if they are selling the property well below market. I would take a hard pass.