Please help with L/O - Posted by Kylee

Real Estate Investing
1

Posted by Randy (SD) on March 01, 2004 at 12:26:03:

Who is structuring the lease? If you are drawing up the lease, put a provision in the lease that you are to pay $1,200 per month and receive $200 per month rent credit towards down payment at closing. If the seller is drawing up the lease ask for rent credit.

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Please help with L/O - Posted by Kylee

Posted by Kylee on March 01, 2004 at 11:44:40:

Hi,
Trying to set up a L/O for myself with owner. Terms look like they will be $2000 L/O fee. About $1200 a month lease for 18 months (or 24), then get a real loan and pay her off.

So, my question is–does the $1200 a month start paying down the sale price in an L/O situation–the way it would in a Sub 2-- or am I just paying like normal rent, and our agreed on sale price will stay the same, without being paid down?

Thanks.
Kylee