I'm attempting to structure my first deal on a triplex FSBO with a 10% CAP. It's newly renovated, no repairs needed (that I'm aware of), and is currently vacant. My plan is to move into one of the units, rent out the remaining two units, take over the management and pay the seller a monthly lease. My exit strategy is to either purchase the property with traditional lending in five years and hold or sell my option in five years. How should I structure the deal so that my offer is taken seriously?
Hey @Danielle Hinton . thats a loaded question. typically a L/O has monthly rent payment, option fee, duration, and purchase price amongst a lot of other things. sounds like a cool way to house hack with low down. kudos. let me know if you want to chat more.
Hello, Usually the owner is going to want you to have skin in the game and will be looking for a chunk of money down that they will keep if you default. There are a lot of moving parts here, find someone that can write the offer that has done it before.