How Much Can I Charge Over Market Rents?
Hi I have a possible deal but need some advice to see if this can www.work.The market rents for this new property in california are about $2000mnth but the seller would need to cover the 100% mortgage payments onj this brand new home which would total just over $5000mnth The question is can i really sub lease it out to a tenant buyer this far over the market rents? Has anyone else had experience doing this? It has an appraised value of over $700,000 and they have a pre pay for www.2yrs.I would appreciate any help given as this is the first L/O i am trying to put together and need some quick www.answers.Thanks so much
I'd like to know, too, if anyone can advise....