would you do this owner finance deal?
I was wondering if I could get some advice on this. I sold my business and have a little money to move into full time real estate but cant show good enough tax returns right now being I was self employed and beat it down real far. Were also moving North west from Florida and need some security for my family.
Theres a owner finance deal: 235k for 6 units, that are all leased bringing in 3650 mo They want 40k down @7% interest for 7 years. Said there is about 200 cash flow per month but I would own it out right in 7 years.
Does this sound good to anyone?
thanks for your help, pretty new to this. I really only have about 40k to invest and would be sitting good in 7 years. We were going to try to flip but its been real hard finding the right deal and we must move because our daughter is going to school out there.