- Joined
- Mar 3, 2011
- Messages
- 104
Hi gang,
I have not done a lease to own before, but are looking to start utilizing this method as an exit strategy. I have not been able to apply Quick turn method to secure a contract to buy a property yet. However, I do have a nice home in my portfolio that I would like to do a lease to own or owner finance. If I don`t have front end deal yet so, I might aswell try out the backend to practice when I get one.
The property was bought for 345000.00 1.5 years ago. City Assessed this year at 288000.00.
I am asking for price at the market value when the option is excercised with price no lower than 345000.00.
The property is vacant, and It has been beautifully renovated and staged.
Advertising so far for about 3 weeks:
1) Kjiji
http://calgary.kijiji.ca/c-housing-housing-for-sale-Rent-to-Own-Low-Down-Support-Your-Local-Charity-W0QQAdIdZ180392341
2) signs on the property
Callers so far:
1) 5000 down with refund coming in a couple of months and wants 1500 rent with 200 goes toward down payment.
2) second caller sticky on the price and want it reduced.
3) 20,000 down wanting monthly rent reduced and can`t move in for a couple of months.
4) 2000 down with refund coming in a couple of months and willing to pay 17000 rent with 200 goes toward down payment.
Are these suspects or prospect?
What about price range, is it ok or too high/low?
Are the number of calls typical?
Any expert out there can comment on the whole deal?
Any suggestions would be appreciated!!
Thanks!
I have not done a lease to own before, but are looking to start utilizing this method as an exit strategy. I have not been able to apply Quick turn method to secure a contract to buy a property yet. However, I do have a nice home in my portfolio that I would like to do a lease to own or owner finance. If I don`t have front end deal yet so, I might aswell try out the backend to practice when I get one.
The property was bought for 345000.00 1.5 years ago. City Assessed this year at 288000.00.
I am asking for price at the market value when the option is excercised with price no lower than 345000.00.
The property is vacant, and It has been beautifully renovated and staged.
Advertising so far for about 3 weeks:
1) Kjiji
http://calgary.kijiji.ca/c-housing-housing-for-sale-Rent-to-Own-Low-Down-Support-Your-Local-Charity-W0QQAdIdZ180392341
2) signs on the property
Callers so far:
1) 5000 down with refund coming in a couple of months and wants 1500 rent with 200 goes toward down payment.
2) second caller sticky on the price and want it reduced.
3) 20,000 down wanting monthly rent reduced and can`t move in for a couple of months.
4) 2000 down with refund coming in a couple of months and willing to pay 17000 rent with 200 goes toward down payment.
Are these suspects or prospect?
What about price range, is it ok or too high/low?
Are the number of calls typical?
Any expert out there can comment on the whole deal?
Any suggestions would be appreciated!!
Thanks!