Analyzing owner finance terms
Hey there! I'm new to real estate investing and have come across some properties on Zillow for sale. I'm very interested in investing in this area. In the Zillow add it says:
"Owner financing: 60% of the monthly rental income ($1095 x 0.60= $657) plus 4% annual interest and 5 year balloon. Buyer to pay property taxes and home owners insurance and name the Seller as additional insured."
I know little about owner finance so I'm not sure what is means and if it sounds like a good deal. And help and/or advice would be appreciated!
Thank you!!
Trina