Can someone take a couple minutes to help me analyze a deal:)

4 Replies

Im under contract with a duplex in pueblo CO. 1017 box elder st. Pueblo for 140k. Arm loan 7% intrest, 20% down payment. Structure is bad but they are fixing it for me.

Ouch 7% interest.  

Is it seller financed?  Seller financing can be a warning sign.  There might be a reason a bank will not finance it.   Can you tell us more about the financing?

What's wrong with the structure?

Interest rate seems high, especially with an ARM. Can you get fixed interest rate?

Zillow says both units combined rent for $1325, what are the rest of the numbers?

@Greg Scott . Its a loan where the rent has to be higher than the mortgage. I cant get a fixed rate my income is too low. The floor slopes down in living room and a pillar on the deck is not holing up. I could make 500 a month. Dont know if its worth it. I could re finance