OfflineI had a person e-mail me about selling some duplexes and they are willing to owner finance. My question is how do I calculate the monthly payment?
Asking Price - 79,500
10% down payment
15 year plan at 9% interest.
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Success and Nothing Less!
Ikward just go search for a mortgage calculator on the net and input the info you have there. My computer came with a mortgage calculator built into Microsoft Works. Should be $725.71 approx.
Good Luck,
Brian
Thanks brian!
Success and Nothing Less!
lkward You can also go to google and search amortization. Look for the response that says am calculator.
Get as much info about the duplexes as possible and then go from there. Ask for the FMV, how many bed rooms, bath, sq ft, does it need repairs, etc, etc. Also ask how much the duplex is renting for or if it's occupied. Brian provided you with the monthly payment, but you will also have to calculate taxes and insurance. If the number comes up profitable and cash flow, then make it happen. Good luck!
Lloyd
There is also a financial calculator on this web site under student resources!
Tom
Hello Again...
I am not sure where you are looking for your duplexes...but I put an article out there on this site about a web site that I found that alot of people have responded to me about. OKLAHOMA...is one of the states on it! Try it out by going to www.investorloft.com.
Tom
Lloyd I just emailed the guy back with all of those questions and a couple more. We'll see what he says.
Bicycle, thanks for the site. I am adding it to my list of things to check everyday!
Success and Nothing Less!