seller financing vs lease to own
Hello world, My name is dan I am new to this site heard of it for a while but first time on. I have one rental and am weighing the options to increasing my portfolio of investments properties. I am seeking advice re: seller financing vs lease to own option. My renter wants to own the property but has issues with financing. I am looking to 1031 this thing into other properties hopefully closer to my current home in CA. My question is regarding setting up owner finance note. I am willing to learn anything but seems like with so much out there i am having an overload of information problem. Analysis paralysis.
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
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#1 Personal Finance Contributor
- Rental Property Investor
- East Wenatchee, WA
Welcome to BP @Dan Leaman!
@Daniel Karbownik is right - don't try and combine an installment sale with a 1031. Have to find a different buyer. A rent to own/ LO isn't a sale at all. Another non-fit for what you're trying to do with a 1031.
I see you are from Puyallup but want to be closer to your current home in CA? Just curious.
Glad to have you!