All Forum Posts by: Eric Kane

I am considering selling my property to the current renter for a discounted price and carrying a junior mortgage for them. I don't know if their bank will agree to this or not and looking for some advice. I would like to sell the property to the current tenant though they were approved for 20K less than what I was going to list the property for. Any suggestions on this topic would be great. 

Brian, Rent and PITI are equal at $1175.00. 10% of the rent however goes to the property manager.

Mark,

I thought about a lease option though I need to figure out how to set it up. If I were to do the lease option would I be able to eliminate my monthly expense and make a profit?

I will look into selling it on BP. Thank you for the advice!

I am debating on what to do with a rental property of mine. It is in Grand Junction, CO and I am now living in Dallas, TX. I originally kept it because I was upside down on the loan and have been keeping it since then as an investment for later. I am currently paying 100 dollars a month to keep it and that is only true a if there were no other expenses that month. At this point I may be able to sell it and break even though its more likely I will have to pay a few thousand to get rid of it. (working on numbers with real estate agent/property manager now) I would also like to purchase something closer to my area that I can make a profit on and really get into real estate investing. The answer seems obvious but what would be the best way to go about all of this?