How does rent to own work?
I have a property in Worcester, MA that I could sell for about $250,000. It's a three family. Someone in the neighborhood, a contractor/remodeler wants to rent to own the whole three floors. Usual rent is $1,100 each unit.
How would rent to own work? Also, is it a deal for a seller?
My plan for most of the money is to invest it for retirement in stocks and bond funds. I'm not intending to use more than $40,000 for something other than that.
I just want to know how it works. Thank you very, very much to anyone who can enlighten me!