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Updated over 8 years ago on . Most recent reply

User Stats

7
Posts
2
Votes
Tony Sansalvo
  • Surveyor
  • Wethersfield, CT
2
Votes |
7
Posts

Need help - should I buy this?

Tony Sansalvo
  • Surveyor
  • Wethersfield, CT
Posted
I need help deciding if I should take this deal -- 6 units (5 residential - 1 retail/package store) Gross revenue = 62k/year , net $30k/year Sale Price: $365,000. owner financing Loan Details: Terms: 1st Term of 2yr interest only payments. Then, following 3yr term of Principal+ Interest payment (no prepayment penalty). At the end of 5 years, balloon payment of principal balance at that time. Amortized loan term: 10 years. Payment Term : 5 years. Property is in very good condition, location is blue collar reasonably safe area. Your input is greatly appreciated for this investor. Thank you, Tony

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