Updated over 9 years ago on . Most recent reply
Owner Carry - Interest Only?
A local investor is looking to sell one of his single family homes to me. $230,000 strike price on terms of interest only for first 10yrs at 8.5% and amortize principal for 20 years after. Comps in the area are ~$180k. It isn't necessarily what I would call a fancy house, but it's definitely a rental.
Thoughts? Or what might be a better way to slice it for both of us?