Seller financing deal analysis help
Selling price: $85,000 (includes furniture, appliances, beds and bedding, dishes, yard equipment, etc)
10% down payment: $8,500
House is turnkey and sale price is average for area.
Balance: $76,500
6.5% interest, includes PMI
Balloon payment at the end of 2 years:
$74,000
If 10 year fixed: $869 a month
If 15 year fixed: $660 a month
If 20 year fixed: $570 a month
If 25 year fixed: $517 a month
If 30 year fixed: $484 a month
$600 average for homeowner's insurance, property taxes, gas, electric, water, sewer, garbage pickup, basic cable TV, digital phone, and Internet.
1 bedroom rented for $450 a month.
Airbnb second bedroom at 10 days a month nets roughly $500.
Basement may be finished and used as additional airbnb. (Possible 500-750/month)
The house has been on the market for some time, not sure if I'm missing something, looking through rose colored glasses, or if it's legit. Thanks for the help.
Most Popular Reply
@Bryan Larsen 2 year pay off acceleration seems a bit short But that’s OK if your plan includes either selling it or refinancing with in that timeframe. I have a few mortgages With a credit union on my properties that balloon in five years, and some in 10 years. How are the taxes looking