How to do a lease purchase
Hey BP, can someone walk me through how a lease purchase works? Everything on google is written as if i am the renter and trying to purchase the property. I am an investor and want to purchase a property. My main question is…i know i pay a deposit and we have an agreed upon term. During the term period, do i take over mortgage payments and pay the seller a rental fee/rental premium from the cash flow? Is there typically a credit built in that gets applied to the payment during purchase? Is the initial deposit applied to the eventual money needed for down payment?
Appreciate the clarifications!
kevin