this question is for the experienced investors that have used lease options strategies in all forms.
if I am working with a hard headed homeowner and all the numbers work, would it be wise to entice the homeowner with not only paying his mortgage, but awarding $100 per month to his checking account?
It sounds very desperate, but if the numbers really worked out in my favor I think I can sacrifice 1200 a year. Your thoughts?
or is this strategy already very common?
So you are looking at a SLO?
So you'd just be paying an extra $100 per month.
1st..have you done a SLO before?
You have to realize what you are getting into.
If he's hard headed, that means he's not desperate or liking what you are telling him.
I don't know the details, but on the surface I'd say do a LO assignment and get him full price and monthly...
Sellers that do CA's aren't really desperate, but looking at options.
@Andrew LeBaron can you give the details so we can help better...what is the sellers situation? what are the numbers?
Seller is an old timer snowbird from Nebraska
House value 250k
Loan due 23k
2year contract agreement LO
Monthly mortgage payment $960
Going rent in area $1350
4 bed 3 bath
He wants to leave for 9months of the year but not hassle with tenants. He's old.
He likes the mortgage paid idea but would leave it vacant and free an absentee owner if he doesn't get any sort of cut in the deal
Wants to keep the house for now but it's willing to sign a2 year LO
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!