RentToOwn-HouseFinder.com
Lease buyout option on a home?
How does that work? It is a new subdivision out side the city.
Public Comments
- its quite simple. I buy houses on a 5 year L2P contract then advertise them as lease to own or rent to own deals. The down payment that your buyer gives you is your profit. All buyers stay less than a year so you can resell the property 5 times in the five years or sometimes more. If the house is not too badly destroyed at the end of the 5 years you can buy it yourself or just dump it back to the original owner. The only time you would ever have to even declare any of your profit as income is if the buyer actually obtained a mortgage and bought the house ( at your price with markup from what you agreed to purchase it for ) but the chances of that happening are zero because your tenants generally have real bad credit Sometimes the owners mortgage company forecloses on him for not living in the home he had a mortgage on and evicts your tenants but you have no liability to the owner or the tenant you are just a middleman
