i called on a lease option property today and the owner wants 5000 down and 1100 per month. i told her what my plans were as far as i was just going to rent it out and she was fine with that, but she asked what my plan was as far as getting financed from the bank when it came down to buying the property in a few years. Should i just tell her that my plan is to rent it out until i find a buyer and that im not actually going to be the one buying the place cause i have bad credit? i have been paying close attention to greg murphys videos and he makes it look so much easier. Can anyone help me maybe with what i should say from start to finish. is it even worth pursuing if she the asking price is $150,000 and she is firm on getting $1100 a month. would i even be able to rent it for say $1500 a month? im lost!
i called on a lease option property today and the owner wants 5000 down and 1100 per month. i told her what my plans were as far as i was just going to rent it out and she was fine with that, but she asked what my plan was as far as getting financed from the bank when it came down to buying the property in a few years. Should i just tell her that my plan is to rent it out until i find a buyer and that im not actually going to be the one buying the place cause i have bad credit? i have been paying close attention to greg murphys videos and he makes it look so much easier. Can anyone help me maybe with what i should say from start to finish. is it even worth pursuing if she the asking price is $150,000 and she is firm on getting $1100 a month. would i even be able to rent it for say $1500 a month? im lost!