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Dmitry Zbarsky
Pro Member
  • Staten Island, NY
3
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15
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Should I lease with buy option or sell SubTo

Dmitry Zbarsky
Pro Member
  • Staten Island, NY
Posted
Hi BP Community,

Been watching BP podcasts for a while and learned a whole lot. Joined the community a few months ago and today signed up for one of the bootcamps and got the Pro membership - whoohoo! :)

I have a situation that I hope I can get some advice on. I have a 2b/2b condo I purchased in Feb 0f 2022 in NE Philly for $218K. I'm in the process to sign a a lease with a new tenant and was asked about lease with option to buy. While thinking through that I thought why not do a hybrid of subto and owner finance (my equity is about $70K). I liked the idea of selling as I'm not crazy having to deal with HOA. I initially went for a condo as a safer bet, being this was my first investment, but I realized that comes with strings attached so to say.

I'm about half way through Pace Morby's book Wealth without Cash and really like the creative finance approach, but still totally lost about how to approach it as I haven't done any of that.

Thanks in advance for any help!

Dmitry

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