Rent Back

11 Replies

I am looking to sell my house at a discount for the right to stay in the property for upto 5 years. it's worth $2,200,000 and i'm willing to sell for $1,900,000.  Is this an option or am i all wet. i could sell but my father-in-law is 86 and we don't want to make him move at this point.

Thanks for your input 

What would it rent for?

Are you planning to pay any rent?

no rent, that was why i was going to offer a discount  

I would think you would need to discount it for more than 300k as over 60 months it equates to 5,000 a month in rent and from that standpoint I don't see it making sense for an investor

it has a guest house on the property that would rent for $2,000-$2500

What would you think the discount would need to be?

Lost rent plus carrying cost plus a little more

Do you know where i would search out an investor like this

Anyone capable of purchasing the house would just be shaking their head.  It's nice that you want to help out your Father-in Law, but an investor can't care.

If the house is paid for why sell it? Refinance and pull money out. With the 200-300k pay rent back to yourself for your elderly family member which should be enough to pay loan over next few years. After passing of the family member you can keep renting. You should have plenty leftover for another investment if that's the motivation for the sale. Play the long game, keep and rent the property imo. If you are still looking to sell, sign a 5 year lease with the buyer, I don't think you should discount much other then monthly rent, as a landlord I would love to have a 5 year lease. Most leases 18 months or more are discounted anyway. If you offer 300k discount that's very good, because that's 100% money saved in equity for the investor right of the bat. You just have to find an investor willing to buy and hold, and maintain property for long game . Get an appraiser and solid BPO and subtract 60x top rent. That should be discount enough. D

Is this your house or your Father-in-Law's?

Thanks,

we need to sell before the end of the year. Just looking for ideas to stay in the house longer without giving away to much.

yes this is my house

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