Looking for feedback on a short term rent-to-own

  • MarkTorgerson

    Status: REIN™ Member

    Posts: 318
    Joined: 17 Oct 2007
    From: Calgary / Medicine Hat

     I have a client that is interested in signing a rent-to-own contract. He has 5% cash down and is looking in a solid market. It looks like he will be able to qualify for his own mortgage in 6 months but does not want to wait. He is interested in having us purchasing a property on his behalf and then lease optioning it back to him in 6 months. My concern is the property not appraising for the marked up value on such a short term contract. I could try to steer him into a 2 year lease, but don't feel that would be in his best interest. Any suggestions or feedback for short term RTO contracts?

    Thanks
    Mark
    Mark Torgerson,
    Gold REIN member, Silver REIN member multi family, Top Player 2014.
    President
    SimpleHousing.ca
    www.simplehousing.ca
    E-mail
    mark@simplehousing.ca




      
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