Posted by JohnB_NJ on February 20, 2000 at 22:10:25:
This last deal is a two year option. My T/B needs that much time. I priced the house at about 10k over market to offset the appreciation and the rent credit. I am getting a positive CF of $258 with no maintenance. Like I said, I recieved $3000 option consideration and a good sales price. My back end will put just over $20,000 in my pocket. And since this is a rental, I will do a 1031 exchange when my T/B is ready to purchase. I have had this property for just over 2 1/2 years.
The folks living there want to do many nice things to it and they understand that if they do not exercise their option the improvements remain. So, I am sure they intend to exercise their option but Hey, you never know… the last guy put in central A/C…
Have a great day!!