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Updated almost 6 years ago on . Most recent reply

User Stats

37
Posts
10
Votes
Jimmy Samai
  • Rental Property Investor
  • Virginia Beach, VA
10
Votes |
37
Posts

Would you pick up this Rental?

Jimmy Samai
  • Rental Property Investor
  • Virginia Beach, VA
Posted
I have a situation. Considering picking up this property as a rental Current Mortgage $144,369.56 cents Heloc on the house for 18,000 Which puts the house at $162,369.56 Fixed rate 4.5% I have a lease option tenant at a purchase price of $180,000k $20k down $1700/monthly for two years. Thinking about doing a lease purchase with seller Then do a lease option with tenant. Lease purchase for a year and half and lease option for two years. But with the lease purchase considering only closing on the property for what’s left on that mortgage at the time i decide to exercise the right. Owner is willing to pay HOA for two years and payoff Heloc. Any advice?

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