All Forum Posts by: Travis Elliott

Also if I do lease to own this property and their payment to me is six hundred and my payment to the bank is four hundred but part is tax part is insurance how do I split the payment from them out.

No I dont live in it.

Loan Balance is 43000

Sale price is 69000

5000 down.

I have not qualified them but the down payment will be non refundable so I have some safety there.

Hi

I found a couple that want to buy my house on a contract or lease option. I have a conventional loan on the property but I havent had time to see if there is a due on sale clause or not.

The buyers are suggesting that I except some money down from them and take payments with a balloon date in say five years. I would use an interest rate around eight or nine percent.

What are the ins and outs of this? What should I watch out for? Would the bank get wind and be upset over this?

Any help would help.

Thanks

Travis

Ok a short follow up before I go back to work.

The house is 354 sf with a 174 sf basement. I got a hold of the owner and she has the home sold. There are a number of homes like this in my town.

I would like other opinions about small houses as to weather they are a good deal or bad.

Thanks everyone

My banker justold me about a SMALL house for sale next to her house. I havent been in it but by the outside I would guess three to maybe four hundred feet.

Is this a bad market? A small family couldnt rent it due to size so is this a bad idea?

I can buy it for 15000 or less and rent it for 350.00 tops.

Ideas,thoughts

Thanks for the valuable information everyone .Once again BP has come through for me. I will start by contacting a local property management company to see if I can get a lease from them and go from there.

Travis

Hi

I am in need of a lease agreement form in order to rent out a house. I live in Montana so I need an agreement that is legal for this state. Any ideas or thoughts would help.

Thanks

Travis

There are a lot of stories of tens of thousands of them being sold. When I check the GSA web site it only shows about ten of them for sale. I wouldnt mind talking to some one who bought a home to find out how it went and what condition they were in.

Thanks guys

What I took from that article is that they were talking about campers not mobile homes.

What do you guys know about the homes?

Oops I meant or campers