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Updated about 3 years ago, 10/03/2021
2 yr rent with buy back - Opinion Please!!
Someone recently reached out to me with a potential opportunity. This person is going through a divorce and has to sell their home, they have kids and want to stay in the property if possible. They are wondering if I would buy it from them, rent it to them for 2 years and sell it back for the same amount purchased. They would pay $2,500/mo in rent for the 2 years.
Market value is around $375,000
Would purchase for $325,000 - Would have to finance with 20% down...
Rent for $2,500
Has anyone else done a deal like this? How did it work out for you? Thanks!