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Updated over 6 years ago,
Need help or advice or a push to pull the trigger
Hey all this is my first post after lots of forum stalking. I have come across a deal to acquire 7 rental properties. All mobile homes, ranging from early 90's to early 2000's. It's a package deal with owner financing from a family member looking to retire. He's selling them as a package deal and looking for 80% of tax value. Some have been remodel and some almost gutted. All currently rented. Rsning from $650 a month up to $725. Tax values range from 58k to 78k. Balloon payment at the end of 5 years. My biggest concern is bank refinancing at the 5 year mark. What else should I be looking at?? Please help me