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Updated almost 8 years ago on .

User Stats

15
Posts
6
Votes
Lovely T.
  • Keaau, HI
6
Votes |
15
Posts

rent to own/and or agreement of sale, thoughts?

Lovely T.
  • Keaau, HI
Posted

hello everyone. I'm currently in the market to do buy and hold and I wanted to know your thoughts in this situation: so i saw on craigslist that an owner is trying to sell their rental property (2 homes on 1 lot, currently has tenants) and original asking price is $389900. I haven't seen the property (they only posted 2 pictures of the houses, outside) and don't know the address (but it's in a desired neighborhood) because they haven't emailed me back yet, so i know it's hard to "crunch some numbers" but for someone like me who is totally new to REI and I don't have alot of funding (i have 15k at most?), so i can't go to a traditional bank, what should I be looking for (if i ever get to walk this house)? does this sound like something for a first start off to REI? they originally posted their asking price (FSBO) and then 2 days later re-posted with the title: rent to own and/or agreement of sale. thoughts?