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Updated almost 5 years ago,

User Stats

27
Posts
6
Votes
Sandy Sciales
  • Rental Property Investor
  • Wilmington
6
Votes |
27
Posts

To rent to own or not?

Sandy Sciales
  • Rental Property Investor
  • Wilmington
Posted

Any suggestions would be greatly appreciated.

We have a 3/2 in Wilmington, NC it is a long term rental. We decided to put it for sale 2 weeks ago and asked our awesome tenants to move out at the end of April. THE very next day after putting on the MLS, the Covid virus became a very big concern here, restaurants were limited to 6, the next day schools and so on. When we tried to back peddle and keep our tenants they informed us that they are already moving to another state. I have had a meager 3 showings in week 1.

Strategy: put it out as a "rent to own" with a 5% down $239,000 asking 2 years to cash out. (on zillow?) Or put it back on the rental market and HOPE we have great tenants again.... UGH. 

What to do, what to do,

Thanks so much!

Sandy

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