Help with Deal

I have a deal and need everyones opinion if is good or not.
I got a home that comps on the 255K to 310K
I am geting it for 195K but is 150K up front with seller financial of 45K due on 12 months no interest no payments.
Due when I sell the property or 12 month witch ever comes first.

What you think?
I will get 170K to include closing cost and have some money back at 8% to 10% interest for 12 month balloon payment. That will give me 12 month to sell, rent or refinance the home.


No opinions on this deal???
Please people I need some guideness

can someone shared some light wisdom here. please please.

Looks good to me.

You know what I would do is carry the 20% equity. so carry 55,000.00 sell the house in a week and create an extra 400 per month cash flow. Or sell the note for 80 cents on the dollar and be done in a week!

my biggest concern is that the property is in a 40 and plus community so if I rent it has to be someone over 40 years old no kids.

so how are you getting this home so cheap??? Is it really worth what you think ($255,000 to $310,000) or is the market there so bad that people are starting to give away properties???

just wondering

In this case is owner facing foreclusure. So am actually helping him out of a sticky situation.

Yes many foreclosures coming out to the market now with the interest going up.