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Updated 4 months ago, 08/27/2024
Buy subto sell via wrap question
Im closing on my 1st subto deal at $300K(240k mortgage balance, $60k Partial claim balance) Seller interest rate is 3.4% payment is $1900. I'm looking to wrap this to a end buyer for $350k at 9% interest 10% down. Should my wrap loan be for 30 years or should I include a balloon. Rent is $2200 in area. My 1st deal ever. Looking for experienced investor input.