would you take this deal?

[Luis Munoz]

Hi everyone! needing opinions regarding my first investment property. I currently own one side of a duplex and an investor purchased the other side and is willing to do seller financing. Here are the details:

my conventional mortgage

Balance remaining: $23,000

term of loan: 38 years

interest: 3.25%

Monthly payment $300

(investor) seller financing side

Asking $110k

Down payment of $10k

interest rate of 9%

25 year term

payment $840 estimated.

Market comps in the area would be $850 a door, resulting in $1700 gross profit. Would you take this deal? If this the wrong group please let me know!

Thank you for your time,

Luis

[Mike Dymski]

I would take the deal...if I was the seller.  The rent covers the mortgage and then you would be losing money after covering all the other costs (vacancy, management, property taxes, insurance, maintenance, capital expenditures).