Posted by Matt on January 24, 2004 at 15:25:28:
Great advice from Greg!
Please give me advice on this deal!! - Posted by Shane (N.C.)
Posted by Shane (N.C.) on January 23, 2004 at 21:55:57:
I have purchased a doublewide and lot that was a foreclosure. The house would rent for atleast $600m, but I’m thinking of doing a rent to own for someone. The only thing is, I have never done a rent to own. I have a little experience in renting and seller financing, but this is a little different. What is the best way to structure this deal? If anyone can help, please reply and I will give you the numbers.
Thank you, Shane
Re: Please give me advice on this deal!! - Posted by Darren McCammon
Posted by Darren McCammon on January 24, 2004 at 19:54:08:
If you don’t mind me asking, what did you pay for the foreclosure?
(I also bought a foreclosure which rents for $680. I paid $61k which I’m now learning was probably to much. Just want a comparison. Thanks.)
IMHO you need a pro …! - Posted by Greg Meade
Posted by Greg Meade on January 24, 2004 at 06:00:09:
to help you structure your first deal. A local attorney will probably charge under 500 and will be paid at funding out of proceeds. Too often folks find out that their contract in non enforceable months (years) down the road. took doc,s advise and had Leslie (my atty.) do one and all the others I just change date, names, and properties. Cost?? 415…seems reasonable to me!
congrats,
Greg Meade