A lease option, or rent-to-own, combines a rental agreement with the right (but not the obligation) to purchase the property later at a predetermined price.
Log in to followTownhouse, 3 bed, in a mid-price suburban pocket. Comps say around $268k today. I owe $141k on a fixed loan I will never beat. Rent is $1,725 and the tenant has been in three year…
An operator I've met twice at a local meetup asked me for $15,000. He wants to take a lease option on a 4 bed in an inner-ring suburb, strike $295,000, 36 month option, $15,000 fe…
I move houses fast, that's the whole business, and this one hasn't moved. 3 bed 1.5 bath, all-in at $186,000, listed at $214,000, 70 days, price cut once. Two showings last week a…
Current rent roll: 10 occupied, average $850, so $8,500 gross. Nine of the ten are month to month and under market. I figure $1,050 is achievable after a $3,500 turn, and the two…
Head lease signed six weeks ago on a 1970s 3 bed 2 bath in a first ring suburb. Owner is out of state, inherited it, doesn't want to sell into a slow market and doesn't want to ma…
Reading an option agreement a family friend's agent sent over. House near my sister, asking $289k, and the owner has offered a lease with an option because it's been sitting. The…
The house is a 3/2 about 1,250 sq ft in a decent working neighborhood, I've owned it seven years, rents for $2,100 and it's my lowest-maintenance unit. My tenant of three years as…
Bought a 4 bed to flip, ARV penciled at $320,000 going in. Two appraisals during the reno came in at $293,000 and $297,000, and I'm all-in at $271,000 including a $19,000 overrun…
Found a listing for a 3 bed in a suburb I like. It's advertised as rent-to-own. The numbers in the ad: house "valued at $340,000" $10,000 down $2,300 a month purchase price $365,0…