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Updated over 1 year ago,

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2
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Zitka Ferreira
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2
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Model home lease back opportunity!

Zitka Ferreira
Posted

Interested in opinions and advice.  I am pre-approved for a second home loan. This is a model home lease opportunity.  The lender is willing to rent it from me for 18 months, all expenses paid. The loan requires a $100K down payment.  The rate I am getting is 7.9% and the rental proposed by lender is roughly 7% of home value.  I am not a risk taker, but this time I am inclined to move forward.  Need opinions and advice.  Property purchase price is 372K.  Area is considered rural, just starting to grow.  Other builders also selling in the area.