All Forum Posts by: Sarrowar Hossain

@Roy N. Thanks for the helpful information. 

@Gary McGowan Thanks for the info.

Considering what you've said, do you think it would be easier for me to rather get the property on owner finance agreement and then have it rented out for monthly cash flow? 

Hello fellow Canadian BP members, I am the verge of doing my first real estate deal and I am a bit overwhelmed, so I would like to clarify some of the things. I am looking to structure a lease option/rent-to-own deal with the seller and assign it to a tenant buyer. 

So my questions here are:

1. What contracts do I need to use to acquire the property, allowing me to market it and give me equitable interest?

          I have sat down with the sellers and they are willing to do a 12 month lease period      after which they would want to sell. They are not sure of the end price as of yet, but they want $1700 for rent. 

2. What contracts do I sign with the tenant/buyer? 

           I have a few prospects that I am in the process of pre-screening with a mortgage broker. 

3. Is it necessary to have rent credits? How does that fit in with the end purchase price?

           I need some clarification as to how the rent credit work, and is beneficial for the tenant buyer.

4. How does the assignment work?

            Clarification on which contracts get assigned, and to whom. 

So those are my questions to all the experience investors in the field. I have taken in a lot of information on wholesaling lease options however they are all from the US. I am in GTA in Ontario and I would appreciate any help I can get on this matter.