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Learning and Burning

She wants to pay it forward

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Ok guys heres a first again for me. Have this slo and buyer wants to pay 6 months ahead. To the tune of $9,000 minus the $6700 to the seller of course i get the difference. So now do i pay seller the 6 months up front? Do i pay monthly as agreed? If and what is best for handeling money allocated for such?

 

Learning and burning...

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Mike, I'm not sure I understand. You have a buyer for the deal? Or are you referring to a tenant/buyer who wants to prepay 6 months rent?

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Hmmm. . .you don't often have tenants offering to pay rent in advance. Sweet, but I guess the skeptic in me wonders why. . .

Anyway, my paranoia aside, if the t/b wants to pay in advance, write up a simple receipt. And as for paying the homeowner, that really is up to you. You can pay as agreed, that is, monthly. Or you can pay the homeowner his share of six months rent in advance, for which you now become the greatest thing since canned beer. If you do go the pay in advance route, be sure to get a receipt, also.

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