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Updated almost 3 years ago on . Most recent reply
![Rhonda Harrison's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/949902/1621506107-avatar-rhondac1226.jpg?twic=v1/output=image/crop=240x240@0x26/cover=128x128&v=2)
Model Home Leaseback Opportunity near Washington DC...Good Deal?
Hello-
I own one rental home in Maryland just outside DC. I lived in this home for 11 years. I have a current deal I'm considering that doesn't meet most minimum requirements for CAP rate, Cash on cash return, etc that I see on the forums. Here are the specifics:
- $369 Selling price (new construction), $15% down payment, $12k closing costs, $2700 Monthly rent back (the reputable home builder will rent from me until the community is finished in 4 years, maybe sooner.), no repair costs, no renovation costs, no prop mgmt fees, etc.
I haven't signed the contract yet so some of these numbers are subject to change. Has anyone ever done a Modelhome leaseback? What numbers do you typically look at to determine if this is a "good deal"?
I am a newbee so all thoughts/ ideas are welcome.
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Originally posted by @Rhonda Harrison:
My mistake the builder is Ryan Homes.
Thank you!
I wouldnt buy a Ryan. They are about the lowest tier builder in the area. Their houses do not age well.
- Russell Brazil
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