All Forum Posts by: Robert Gullickson

I am a buyer interested in purchasing two condo's from a local investor. I would like to do seller financing. Each property is listed at $70K. Seller told me his mortgage payment is $375. I am thinking about proposing a 5 year ballon payment where I would pay him his $375 monthly payment plus10% interest (total of $412.50) with a down payment of $2K on each property. This is my first deal and wanted opinions on how this deal sounds for me the buyer and for the buyer. Thanks a ton