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<Steve>

75% Rent Credit!!!

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RENT TO OWN! 75% RENT CREDIT!!!
Greensboro, North Carolina

Nice 3bed/2bath house,
1,200 square feet,
5 years new,
all the appliances

Huge fenced back yard
with (2) storage buildings

Rent $700/month
Purchase price $104K

post-85-1098757382.jpg

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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

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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 value

L/O price $104K

My fee $2K

$700 rent with 75% rent credit for 12 months $6,300

When 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. :lol:

 

<S>

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