Terry,
Here are 2 of the 7 units numbers: #1) 47,500 Asking Price
$1000 Option Money(He will use as Sec.)
$875 Rents
$1200 Taxes
$500 Insurance
Owns it free and clear(will put $550 -purchase price) #2) $79,800 Asking Price
$1000 Option Money( Sec.)
$734 Rents
$2500 Taxes
$650 Insurance
Owns it free and clear.
He will do a lease option for 5 years!!! Land Contract will be the same but need to put down $10,000. What would you do if you had these options? They are both rented out now.
Thanks!
Greetings:
Thanks everyone for the advice given so far… Have 2 deals in the works, still breathing…
My partner just got off the phone from a guy in his 70’s who is looking to sell all of his properties on a lease option, wonderful!!!
My question is this:
He has about 7 properties and he’s willing to allow us to sublease them all, he is going to be relocating at some point and obviously wants to start selling off his property! He will also do land contracts and I’m wondering which one you think would be better, doing 2-year lease options or 5-year land contracts?