Updated about 9 years ago on . Most recent reply
Need help analyzing deal
I need help deciding if I should take this deal --
6 units (5 residential - 1 retail/package store)
Gross revenue = 62k/year , net $30k/year
Sale Price: $365,000.
owner financing Loan Details:
Terms: 1st Term of 2yr interest only payments. Then, following 3yr term of Principal+ Interest payment (no prepayment penalty). At the end of 5 years, balloon payment of principal balance at that time.
Amortized loan term: 10 years.
Payment Term : 5 years.
Property is in very good condition, location is blue collar reasonably safe area.
Your input is greatly appreciated for this first time investor.
Thank you,
Tony