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Updated over 3 years ago on .

User Stats

8
Posts
0
Votes
Miguel Medina
  • Investor
  • Pasadena, CA
0
Votes |
8
Posts

Need help to analyze this deal

Miguel Medina
  • Investor
  • Pasadena, CA
Posted

Hi BP family I need help and advice to know im doing the right thing and getting to know the risks. I have never done this before. I bought a manufactured home in 2016 for $65k and rented for $850 since then. My renters now want to buy it from me. Im open to sell it to them and they agreed for $129k. They do not have a credt established, they dont have a down payment but will take care of closing costs of $3,100. I will finnance the $129k at 7% interes rate for 15 years Inters and principla $1,159= $208,774.66