Please Help Analyze This Deal

[Tyson Hosey]

Hello BP friends! I'm trying to secure a property from a fellow investor who is looking to offload a property in a market that I'm very familiar with. My Property Manager brought me the potential deal, but I'm struggling to find financing for it, so this is what I've come up with. Please let me know if this is a solid deal.

Seller (if willing) would carry note for the balance:

38,000 purchase price

10% down

5 year balloon at 5%

$190 monthly payments

Balance due on payment 60

Any and all input is welcomed and appreciated!

Thank You!

[Tyson Hosey]

Suzanne Griffiths lease expires July of 2017 with a renewal option, taxes and insurance would be under $100 each, so I would estimate adding $100 to my expenses for TI, management would be 10%, maintenance, repairs and vacancy would be 40%. Essentially would be cash flowing around $300.

However, I'm really wanting to make sure that this is an attractive deal for the seller. The numbers look ok for my side of it, but I want to make sure that it works out well for them too.