<Steve> 82 Report post Posted October 26, 2004 RENT TO OWN! 75% RENT CREDIT!!!Greensboro, North CarolinaNice 3bed/2bath house,1,200 square feet,5 years new,all the appliancesHuge fenced back yardwith (2) storage buildingsRent $700/monthPurchase price $104K Share this post Link to post Share on other sites
<Steve> 82 Report post Posted December 2, 2004 LEASED!!! Share this post Link to post Share on other sites
Alan (NYC) 0 Report post Posted December 2, 2004 Way to go Steve! How did you make out on the deal and what type of deal did you set up? Man, you can't touch anything in the NY metro area for 104,000. Again, great job! Alan Share this post Link to post Share on other sites
<Steve> 82 Report post Posted December 2, 2004 Thanks Alan- This was a CA. It is a new house that skirts a tough neighborhood so it took 8 weeks to move. I had to raise the rent credit to 75% and ask the seller to drop the rent from $800 to $700 per month. But we raised the price $2K Here is the skinny: Seller wanted $95K about market valueL/O price $104KMy fee $2K$700 rent with 75% rent credit for 12 months $6,300When seller closes next year they receive $95,700 Seller gets a little more than their $95K with no fees, no closing cost, and no maintenance or repairs for the 1 year term. Nice deal for all. I talked with the seller again this week and they like this L/O stuff and want me to sandwich their personal residence this coming spring. Pass the bread. <S> Share this post Link to post Share on other sites
Andrew Ikeda 0 Report post Posted December 7, 2004 Way to go Steve! You da MAN!! Andrew Share this post Link to post Share on other sites
<Steve> 82 Report post Posted December 10, 2004 Hey Andrew! Thanks, and Glad you see back on the board. Hope your doing well. Where are you at now? Share this post Link to post Share on other sites