Help! Quick! Need opinions!
Your opinions would be appreciated! I think I'm gonna do it I just want some feedback!
SFH 4/1, 3 car garage fenced in yard, across the street from local college on busy road, I have 5 other rentals within 2 blocks. It's an old house but in good shape, seller is fixing everything now.
Price: 75000
Rent: 1100, conservatively. probably more with garages
Seller financing terms
Down: 25%
Rate: 4.25%
Term: 20 year amort, 10 year balloon
Taxes: 1800
Insurance: 650
Cash flow 250-300/ month after everything. (3000 on 18750)
This is in the area I am trying to get a monopoly in! Needs no work it's ready to rent, pretty good seller financing terms I think. I am at 70k, seller wants 75k we are currently negotiating. Would you do this?