Help on Deal Analysis!!
Hello fellow BP members, I have a deal that I would like extra eyeballs on. Purchase price $107,000 these are two separate properties buying as a package. Rent from property 1 is $750, rent from property 2 is $900. Expenses are $1530 a month for both properties. The terms are a 15 year amortization with a balloon payment due at the 61st month, which is the first month of the 6th year. With the full payment due in 5 years kinda worries me. These will be my first two properties and it will give me a way in the industry, but I also don't want to make a bad financial decision. What do you guys think?