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May 26, 2012, 12:40:46 AM

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Real Estate Investing Forums  |  Real Estate Investing  |  Sub2, Owner Finance, Options, Lease Options Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Lease option for first time homebuyer « previous next »
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Author Topic: Lease option for first time homebuyer  (Read 742 times)
NuInvestor
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« on: July 04, 2005, 06:16:56 PM »

-I AM HANGING WITH THE BEST RE MINDS IN THE COUNTRY-
First off, thanks to everyone for the great knowledge they have shared with the forum members. I have been poking around and have found some great info.

-SUBJECT PROPERTY-
I am trying to secure a 2 family property (with an extra 1 bedroom unit) that has a total rent roll of $4,100. Assuming that I will be occupying the main unit, there will be a total of $2,650 in rental income from the other units.

-LOOKS LIKE A GOOD DEAL-
The asking price was $725k, but I have already gotten the signal from the real estate sales person that the sellers are tired of carrying the property, and just want to get rid of it (not a financial issue for the sellers) that I could get the house for $575k.

-CASH IS LOW-
I have under $100k available to put down to cover downpayment, closing costs and for reserves.

-THIS IS WHERE YOUR EXPERTISE IS NEEDED-
What's the best way for me to structure this to have the lowest monthly payment and gain control of the property ASAP?

Thank you in advance for helping me.
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Real Estate Investing Forums  |  Real Estate Investing  |  Sub2, Owner Finance, Options, Lease Options Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Lease option for first time homebuyer « previous next »
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