Updated almost 4 years ago on .
Rent to own property
Investment Info:
Mobile home note investment investment.
Purchase price: $8,000
Cash invested: $2,000
I ended up leaving for the service and didnt feel comfortable leaving my house unattended. So i decided to sell, and then for the couple who are currently living there now, they were not sure that they would get accepted for a house loan to buy the property, So I worked with them and ended up doing a rent to own proccess. I havent had any problems since starting this process, the only thing I wish I would have done differently is charge a bit more than what I am charging now.
What made you interested in investing in this type of deal?
I just thought it worked best for us both.
How did you find this deal and how did you negotiate it?
I decided to just take faith into it
How did you finance this deal?
I origionaly paid of the house with my own money that had been saved up. My family had helped me fix up the place to renovate what needed to be fixed.
How did you add value to the deal?
Adding new flooring in both the living room and kitchen, redoing the whole bathroom, repainted the walls as well in the house.
What was the outcome?
Still getting income coming in every month
Lessons learned? Challenges?
Wish I would have put more thought into this before going ahead with the process.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no