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Updated about 5 years ago,
Owner Financed Apartment in Louisville (feedback needed)
I'm looking to invest in a 2 bed, 2 bath apartment in Louisville, KY. It is turnkey and can convert from traditional rental to STR. Owner has proposed following deal:
- $240k purchase price
- All furniture included
- 20% down ($48k)
- 4.5% fixed interest rate
- 2 year balloon payment
Would you do this deal?
What concerns would you have?