Lease Option 2 Family
I live in a 2 family right now and might be moving. I would want to sell my 2 family on a lease option. How does that work? Would the new tenant buyer collect the rent from the other tenant as I do now? Would I collect it and collect less monthy fromt the tenant buyer? My current PITI is $1100 a month. The other side rents for $550 and I think the side I live on would rent for $600. How would I go about selling on a lease option?
When selling a duplex on a L/O you just sell the entire building to someone. Until they actually purchase the property, I'd say you collect on both halves of the property. I hope that helps.
Ryan J. Schnabel
bill,
You need to find a buyer who has a signifiacnt down and is wanting to take the prperty on an option. You would then mark up the property to compensate for the future sale and then you would tell him how much his monthly payments will be. When the time comes for him to exercise the option, you will get your money form the closing plus the FMV markup. Make sure you cover your Assets!! Good luck. I would also read some more in this forum..