Triplex Subto questions (first deal)
Hello All, I’m trying to buy a triplex for $600k. Owner has a mortgage of $300k @3.375% and will carry $100k @ 2% if I put $200k down. Owner wants ballon payment of total balance in 12yrs. Current rents total $3500 mo. and property in OK condition in SoCal. I thought the property was paid off when I was offered the seller financing. I was advise if I purchase this property to put the deed into a trust, but I’m not sure what else I need to do to protect my investment besides make the payment to the owners mortgage company directly and the $100k loan payment to the owner. Any help would be appreciated. Thanks