Same-day purchase to lease option

[John D.]

I've been under contract to purchase two properties from the same seller for a total purchase price of $203k, and we close tomorrow. My real estate agent also brought forward an interested party who really wants these properties, who was looking for owner financing or a lease-option on these. Here's what I hammered out that we will sign tomorrow right after I close, that the interested party is agreeing to lease-option these for

$266k purchase price

$50k down towards purchase price

$54k every 6 months minimum payment towards purchase price

So basically they are agreeing to pay off in 24 months or less.

Here's the great part...........they pay $3k per month rent until they've paid it off.

Can't imagine it gets much better then that! If they take the full 24 months to pay this off I take in $338k on a $203k purchase price...and even if they come up with the cash fast I am still up $63k+.

Realtor, closing, etc. fees and related come off this but still, psyched......