All Forum Posts by: Hank Oyler

Hello BP Community. I wanted to get a consensus, I am relocating to Austin and selling my primary residence here in Orlando, FL ..... I am selling on a lease-option, but I'm curious how many of you would have sold outright? Here are the details below.

- $22,500 option fee, 3 year lease @ $2,000/month (about $100 in Cash Flow), $312,500 purchase price (to be closed within 3 years) Effective price of $335,000 ... Owe $265k on mortgage, so when it closes will net around $50k for a total profit of $75000 +/- including cash flow. Tenant-buyers are actually our neighbors, high income earners but self-employed, need 2 yrs of tax returns for mortgage.

-If I sold outright, I would walk with about $45k +/-, house could appraise for low $320's .... This would put me walking away with twice as much now versus waiting on more later ...

Thoughts? I've already collected option fee, but I'm just curious to see who out there would have sold outright

Cash flow isn't great but if you can get more then appraisal I say go for it! Sounds like you put together a nice lease option deal. May have been able to get a little more as an option fee but I'd be happy.

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I'm on the fence. Anyone currently using REBO gateway?

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My experience is if the cash flow is right roll with it. In my state if the unit is 1980 or older it will require tie downs. Not sure about your state. Aside from lot fees (which I try to avoid). Also watch for hvac. That can be a large expense in my area. The rest is pretty easy. Good luck.

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Pay at time of completion or within 30 days of completion. If multiple scopes draw based on percentage of completion. If contractor isn't confident enough to accept payment at time of completion RUN

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Welcome Russell, I work off Hogshead Road in Apopka. Live in Winter Park. If you have any questions feel free to ask I'll do my best. Good luck.

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All Forum Posts by: Hank Oyler

Hank Oyler has started 8 posts and replied 64 times.

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