Looking for advice from those who have done rent to own properties. Pros, cons & general thoughts on this option would be greatly appreciated.
Thanks!
Doug
Brad, could not of said it better ! I'll add my 2 cents. Below grade i prefer foam insulation. I shy away from plywood or dricore on the floor if possible. Trapped moisture and/or water entry under the subfloor will cause mould issues. As a restoration contractor for over 30 years i've seen this...
Wash surfaces with TSP, prime with Kiltz & paint . When you use Kiltz there is no bleed. Use it over oil based paint then you can use latex. We do our own work therefore it's inexpensive.
Do they pay their rent on time ? I'm much more concerned about that. Yes it's annoying when they smoke & not suppose to in the apt however, if they are good tenants, pay top rent & on time , I'll pick my battles. When a tenant moves out we have it cleaned & painted anyway. Smokers or not. Just...
Yes private lenders is the way to go. Check with your lawyer . They always seem to have clients with money to invest. We buy houses damaged by fire, water, mould. Doug
Try calling a water damage restoration company that has a thermal imaging camera & moisture meter. They may be able to help in locating the entry of the water that is penetrating the building envelope.
I have never heard of a life lease. I was curious if others have encountered this. I did talk to my bank & credit union. Both declined as they cannot attach to the building. Thanks for you suggestions!
Doug
Thank you Thomas!
Here in Ontario the County owns a nursing home. Attached to the home are apartments. The building is owned by the County. Individual apts can be sold & buyers enter into a life lease with the County. The monthly fee covers all utilities, taxes & common maintenance like a condo...