- Joined
- Nov 30, 2012
- Messages
- 46
I just spoke with a young couple who are interested in doing a rent to own on a place I have for sale. They're just starting out. He works construction and she will be able to be employed in the next year or so . This is small town Alberta where buyers are few and far between. The purchase price on the house is about $200k, and they say they'd want to buy in 2 years.
However, in my questioning, they said they would have to get a loan for the initial deposit-I'll be asking about $8000. This tells me they have few resources. Is this a red flag for those of you who do this? I love the cash flow of RTO but I also want to see my tenants succeed and not get in over their heads.
Thoughts?
Keith
However, in my questioning, they said they would have to get a loan for the initial deposit-I'll be asking about $8000. This tells me they have few resources. Is this a red flag for those of you who do this? I love the cash flow of RTO but I also want to see my tenants succeed and not get in over their heads.
Thoughts?
Keith