All Forum Posts by: Zitka Ferreira

Interested in opinions and advice.  I am pre-approved for a second home loan. This is a model home lease opportunity.  The lender is willing to rent it from me for 18 months, all expenses paid. The loan requires a $100K down payment.  The rate I am getting is 7.9% and the rental proposed by lender is roughly 7% of home value.  I am not a risk taker, but this time I am inclined to move forward.  Need opinions and advice.  Property purchase price is 372K.  Area is considered rural, just starting to grow.  Other builders also selling in the area.

This is a interesting thread. I also have an opportunity to buy a model Leaseback to builder. They will lease at 7% of home value for 18 months. I have been pre-approved. The down payment is killing me. They want 25%. I can only do 15%. Not sure how much margin For negotiations I have. This is my first time investing in this type of scenario.