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Updated over 6 years ago,

User Stats

11
Posts
1
Votes
Christopher Neil
  • Investor
  • Brookville, PA
1
Votes |
11
Posts

Selling Duplex on a Lease Option

Christopher Neil
  • Investor
  • Brookville, PA
Posted

I will be selling a duplex i just picked up on a Lease Option.  My question, since this is a duplex (i plan on lease optioning the 3 bedroom unit), what do i do with the One bedroom income.  My thoughts are, the tenant/buyer will be paying an option payment for the 3 bedroom unit to purchase the duplex.  I will be 'renting/leasing the 3 bedroom unit for the option term of 1 year.  I want to then owner finance the purchase to the tenant/buyer once the option term expires.  During the lease term i also collect the one bedroom rent?  After the option to purchase is executed from the tenant/buyer, and i owner finance, the tenant/buyer starts to collect the one bedroom unit rent?

So during the option period and i am collecting rents from both units, I'm pretty much a landlord because utilities will have to stay in my name because the duplex has one electrical service and heating boiler.  

Anyone have a similar deal?