I had a senior couple contact me the other day asking if I wanted to purchase their home (they live right next door to one of my rentals). They love their Home but feel they cannot keep up with the caretaking tasks.
While brainstorming I offered up the idea that if they sold it to me and became renters paying a rent per month plus an extra monthly fee for maintenance that I could handle things.
They lady’s face beamed. Has anyone done this type of thing and if so can you give me some ideas, please.
This seems pretty straightforward that you would just be buying an off market rental. Once you tell her what the rent and I'm assuming "gardener fee" are she may be less excited.
A straight sale and lease back.
Have you crunched numbers and discussed them with the sellers?
I am just beginning the process.
Why would they pay rent plus an extra maintenance fee? Just charge them market rent, maintenance is landlords responsibility.
sounds like a reverse mortgage
You guys all present very valuable insight.