Updated almost 9 years ago on . Most recent reply
Rental or rent to own?
First post so please be gentle. I bought a foreclosed townhouse in 2009 with the intention to rent it out forever. Now that I've started this real estate investment journey, I'm wondering if I should approach my tenants with a rent to own option. They love the place and say they don't plan on moving. I bought it for 125k in Woodbridge VA and owe about 114k. The rent is $1395/month so I'm marking about $430/month. According to Zillow it's worth around 216k. Would it be better to explore the rent to own option or just continue as a normal rental property? Thanks in advance.