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Updated almost 9 years ago,
seller finance deal a little confused
I have came across a duplex that is fully occupied with a double digit cap rate. The duplex has two large 3BR/1.5baths! The cost of the property is 40k, seller finance available 20% down payment, 7% interest, 3 year balloon, with property management available.
Can somebody explain what the 3 year balloon is?