Re: A No Brainer - Posted by Ed Copp (OH)
Posted by Ed Copp (OH) on July 13, 2001 at 10:49:00:
You do all the work, and the property gets all the benefits, including getting all the money sent directly to him.
Lets see you lease from the owner, and if the tenent does not pay who will chase the money? (you).
If you do not pay the owner the (admittedly too high) rent, no doubt this will kill your L/O. So the owner will have the tenant and you will be out in the cold. Not a good business plan if you ask me.
If you do pay but the tenant does not pay this too high rent, then your cash is out in the cold.
My suggestion would be to dispose of this property owner, and go out and find a real deal that works. He is not motivated, and not realistic.
Move on, it’s a no brainer.