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Updated over 1 year ago,
Model home lease back opportunity!
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.