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

Question

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.

Dennis M. · Answer

What is the rent ???

Crystal Wilson · Answer

@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

Sean Lambert · Answer

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 · Answer

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?

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

4 Replies