Updated about 8 years ago on . Most recent reply
Am I crazy for doing this deal? I need help analyzing!
I have a deal that I need help analyzing. It's a commercial property on main st. in a town of 50k people. It is a mechanic shop with lifts, ect...Great location
purchase price- 229k with 20% down paid by the person who I'll be renting it to and will be selling to in 3 yrs for 260k. My financing will be 1300/month amortized over 20 yrs at 5.85 percent interst and the renter/future buyer will pay me 1800/month 17 yr amortization schedule at 6 percent. I'll hold my opinion back on this as I need another professional to brainstorm this.
No money down as the future buyer will put this down.
500/month net
future sell of 260k (3yrs).
Most Popular Reply
Seems like the person who will rent it from you doesn't have credit otherwise they would have bought it on own. As long as you think they can make payments it seems like a no brainer.