Updated over 6 years ago on . Most recent reply
Tenants want to buy back duplex from me
Hey All,
So I just purchased a duplex in December. I’m mid rehab right now on one of the units. The other unit is currently rented. My tenants texted me and said they’d be interested in buying the property off me. Going forward how would you approach this. Lease to own? Straight sell it? If anyone could chime in on the pros v cons of lease to own id appreciate it.
I picked it up for $350,000 will end up putting roughly 10k into it. Would it make sense to sell for $390k. The thing will cash flow once I have this other unit rented out. So I’m in no rush to get rid of it. But I’m picking up a 3 family and 4 family right now as well so If I could make a few bucks I wouldn’t mind letting it go! Thanks in advance for any insight!
Most Popular Reply
@Michael Junior
Put the 10 k in property and sell to Tennant for fair market.. don't sell on lease option..