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Updated almost 8 years ago on . Most recent reply

Seller Financing - Interest Only for 10 years
Hi BP Forum,
I'm looking at a deal where I put 33% down (2M) and 66% is financed by the seller for 10 years at 5% interest only. The units are turnkey, but could be jazzed up and are renting a little under market. How do I figure out if this is a good deal and how I'm going to handle the principal payment in 10 years?
Any advice would be great. Thanks!