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Updated almost 6 years ago on . Most recent reply
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Would you pick up this Rental?
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?