Post your seller-financing deals
I would love to hear the terms of anyone who has been successful with buying properties through owner-financing.
What are the terms of your deal, and how were you able to convince the seller to sell via this strategy?
Also, I'm not sure I understand how interest payments are calculated if there is a balloon payment usually after a few years... for example, if I bought a $100k duplex with $95k financed at 5% interest and a balloon payment after 4 years, are payments based on a 30-year amortization schedule (meaning my payment would be $510 each month for 4 years before the balloon)? How would you calculate what the balloon payment would be after 4 years.... is it solely what is remaining of principal from the amortization schedule?