All Forum Posts by: Anand Dokkara
Anand Dokkara has started 1 posts and replied 3 times.
Post: Opinion on a Lease to own contract
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@Wes Blackwell if 5% appreciation it will be $430k but, we need to pay real estate commissions right? How much it can be?
Post: Opinion on a Lease to own contract
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@Doug McVinua and @Wes Blackwell thank you for your reply and suggestions. My long term plan to put kids on college. That is after 6 years. I think, as you suggested I would lease for an year and re-evaluate the options again.
Post: Opinion on a Lease to own contract
- Posts 3
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Hello Everyone,
I am new to this forum and real estate investment.
I am looking for your opinion on Lease to Own option comparative to renting my property.
I own a house in Gilbert AZ and now moving another house in the nearby neighborhood. So planning to rent this house through a property management company. Now, I got an offer from one property management company with Rent to Own option.
They have sent a contact with the below option.
Option Price: $410K (Total cash paid to the owner. No real estate commissions deducted)
Option Consideration: $10,000
Monthly Rent: $2350
Lease term: 24 months
My home current market value is $390K (Appreciated 9% over one year)
Looking for your opinion on the below:
Home current age: 11 years. When I rent this home, there will be a cash flow of $100 on my home.
Is it a good idea to consider this lease to own option or just rent for couple more years?
As the home age is above 11 years, will the home value depreciated here after?