All Forum Posts by: Account Closed

Hello BP members,

We are looking for some advice on doing a lease option on a duplex. The seller is motivated (burned out landlord), just not sure yet how motivated. The asking price on the property is $54,000 (just reduced $5000), and both units are currently occupied with rents of $470 & 500 with good tenants. We are looking at putting 3 k down on a 3 year lease. How do we determine what to offer as a monthly lease payment? We would like to get it down as close to PITI as possible but what is acceptable or typical with an income property? I understand with single family homes the payment would be close to market rent or a bit more but is that the case with duplexes?

Thanks Jon.

Have you heard of people buying this type of home with an LLC then transfer as a Quit Claim Deed?

Hi BG members,

My husband and I are wanting to buy bank owned properties in WI area.  Does anyone know how to go about doing this? It is my understanding there is no contingency period allowed for these properties, so we were wondering how people go about doing their inspections and close their deals.

If you are a wholesaler, how to transfer these type of homes?

Bill Gulley any thoughts on this?

Thanks,

Jill and Brian Zifko

Hello Jeff, we are also newbies to BP, also from Wisconsin (up north). We are finding this to be a great resource for investors. Welcome!