All Forum Posts by: Tanisha T.

I potentially have a chance to purchase my first rental property. The owner is moving out of state and would like to unload the property as soon as possible. He owns the property outright and currently have tenants living there. He said the tenants always pay early and he hasn't had any problems out of them. The tenants would like to purchase the home but are unable to at this time. He said he doesnt want to do owner financing but just wants to be out of it all together. He's selling the property for $50k and after looking at the comps it looks like its worth about 60k so I would offer him about 40k. I do not have cash so I would have to finance the property. Do to the circumstances what are my most creative options for doing this deal? Should I do a lease option? What are your thoughts. Thanks!