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Updated over 4 years ago,

User Stats

6
Posts
0
Votes
Stephen DeSanctis
Pro Member
  • Rental Property Investor
  • Howard Beach, NY
0
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6
Posts

About to buy house with a short term lease-back ( first timer)

Stephen DeSanctis
Pro Member
  • Rental Property Investor
  • Howard Beach, NY
Posted

About to accept an offer on a house first time investor here seller requesting a lease back for about 6 months...any recommendations on how i can handle or set up a lease agreement myself before i get a prop manager involved...or should i set up with a prop manager from the get go?

The requested lease back is to help seller finalize things with his current move out of state...and to help close the deal at a lower sale price... a compromise.. market rent goes for 2000. Lease back at 1500.

Figure it will cover my expenses...and give me time to find a new tenant... with little to no vacancy period.

Tips? Any advice is highly appreciated...

Thanks in advance

  • Stephen DeSanctis