OfflineI love the Greg Murphy Lease/Option story on Dean's Weekly Blog #51, but Dean said something that confused me a bit. He gave an example that had a tenant buyer giving a $3K downpayment to get into the home, then said that 2 or 3 years down the road you set the price for the home and pocket the profit, once sold to the tenant buyer. My question is this: Why would anyone give you $3K without knowing the end price? Wouldn't a buyer want/need to agree on an end price before signing an agreement? I would think so but would love to hear some thoughts on this. Thanks.
-Tom
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Yeah the price is always agreed upon before the contract is signed...
I thought that was the case but wanted to hear that from someone else. Thanks for responding!
Not a problem!!!
Goodluck,
Shaun
Does any of the monthy rent the tenant buyer pays go towards the final purchase price or does the monthy rent go directly to the seller?
The way I have always done a lease option is agree upon a purchase price with the seller and a monthly rent and then turn around and find a buyer/tenant agree a purchase price and monthly rent with them that is higher of course and you give the seller the monthly rent and you keep the difference...
What if I own the home and I am the seller. I need to sell my own home, so I can build a new one. tried to sell on my own and now with a realtor. Haven't had any sucess, so I'm thinking about trying to find a tenant buyer. Can you offer any advice?