help me structure this deal PLEASE! - Posted by Shawn Dostie
Posted by Shawn Dostie on March 08, 2002 at 21:10:42:
I am looking to buy 3 SFR’s and one Duplex for a total of $105,000.00 Owner will carry financing but wants 2 yr balloon of $94,356.00. At 7% Amortized over 156 months at a payment of$1026.00 per month it will take 44 months to gain my 20% equity to refi. Any creative geniuses out there? Am considering offering $117,900.00 with $1450.00 security deposit credit, 2% or $2358.00 repairs credit with the balance of $114,092.00 to be paid in 20 installments of $1,000.00 with 100% of payments going to equity
(o% interest) leaving the same $94,356.00 balance. The owner does not want a lease option and I’m trying to figure an equitable way to acquire the props. I own a duplex and triplex in the same area and all 4 of these units appear at 1st glance to be a better value than mine. Any help would be appreciated.