How to evaluate seller financing?
Total newbie!!!
3bed 2bath home that i estimate can rent for $750.
The seller financing terms are 5,000 down and a payment of $550 a month that includes taxes and insurance. Balloon payment or get new mortgage after 2 years.
The sales price is 61k.
Without going and looking at it yet...it will need no renovations.
How do i evaluate this deal?