Posted by JohnBoy on February 17, 2002 at 03:03:52:
You say your payment is $1340 which isn’t competitive with the rental market. What IS the rents going for on a home like this?
What is your home worth? How do you know?
Also, based on your post I would recommend getting a good L/O course before you do anything. Based on how you have stated things in your post it sounds like you only know enough to be dangerous when it comes to doing L/O’s.
For $400 you can get a good course that would provide you with proper forms and go into detail on how to properly structure a L/O. Paying only $400 now would be a whole lot cheaper than having to pay out thousands later should you do something wrong!
Check out Bronchick’s L/O course at: