Investor · Westlake, OH · Member since 2016 · 5 posts · 0 votes
Hello - Does anyone have more advanced tools as landlords to run rent-to-own scenarios with prospective tenants? I'm looking for things like percentage of equity to rent, comparing amortization schedules (2, 5, 10, 15 and 20) with different balloon payments, a breakdown of operating expense responsibilities (e.g. lawn and snow, property taxes) etc.
Real Estate Broker · Northeast PA · Member since 2017 · 2k+ posts · 2k+ votes
6y
@Mike Cachat, you can run all the scenarios you want, BUT if you give any percentage of the rent to the tenant as equity, you will find yourself in deep do-do when things go bad.
Do yourself a favor and research this type of deal before you have to extricate yourself from an ejectment proceeding rather than a much simpler eviction.
Surveyor · Dothan, AL · Member since 2014 · 425 posts · 391 votes
6y
Following. I have a rental I was about to bring online, but one of my plumbers wants to buy on a lease option on a 3 year balloon/ payoff. Interested to see the responses. I just sold a camper on payments. What a nightmare. Thank God it's paid off now. Looking for a third party to handle servicing of the house note. Thanks.