Hi all, this is my first post in this community that I have been lurking in for the last 6 months. My wife and I are looking to increase our passive income stream through rental properties. We are in negotiations on our third property right now and the seller wants to finance. Their terms are 15% down, 20 year amortization at 6% with a 10 yr balloon payment, and no prepayment of the mortgage for 2 years. The bank is offering 30 years with 20% down at 5.875%. The purchase price will be 105k and is currently leased for 2100 for the next 18 months. I would love to hear some feedback on this seller financing offer.
