My First L/O - Posted by Kenneth

Posted by Kenneth on February 19, 2000 at 18:01:19:

I finally did my first L/O. Here’s the details. February 1, 2000 I L/O a house for $450 per month without any upfront option consideration for 60 months. No rent credit either. We will split the difference between the selling price I get with the outstanding mortgage amount which is $23,000. I just subleased the house for $42,000 with $1000 option consideration and $550 per month for 12 months with $250 of each payment as additional option consideration. A little skinny but not too bad for the first one.