hello BP. i am looking at possibly trying to finance a deal with some seller carry back (2nd position note).
initial thoughts are:
seller carrying 20% of the purchase price (39,000)
at 6% interest with interest only payments for 5 years, then a balloon to pay off the 2nd position note.
comes out $195 a month
does this sound like a typical structure for seller carry back?
thanks and appreciate any and all feedback.