Updated over 6 years ago on . Most recent reply
Short term rent to own
Investor friends I have a question that I think I am over complicating.. I am flipping a house and am almost complete. The neighbors son wants to buy it but can't do the loan until February. This is a VA loan. He wants to rent the house till the February close. I am going to cash out with a short term loan and have him pay the loan with his rent. My question is what does this contract look like. Do I have an agent draw up a rental and a buy contract, can they be tied together? I don't want him to leave me with a high interest rate loan, a lived in mess and waisted time that I could of had the house on the market.
Any idea on a clean option for me?