Lease Options And Multi-family Houses
I have the opportunity to do a deal for a nice multi-family home where I would do a sandwich lease and put a tenant buyer in the house where my buyer would be the downstairs tenant and they would help offset their lease payment by putting a renter in the upstairs of the home.
Just wondering if anybody has done this? To me it sounds like a smart investment opportunity for a rent to own tenant buyer.
thanks,
Peter
Being a landlord takes a special kind of person. If I had been leasing when I first became a landlord - not buying or renewing my lease would have been an easy way out. Just one bad tenant and you would have your house back.
Now if you did the tenant credit check, back ground check and other DD you might be ok.
Hmmm. How does the seller feel about that?
I personally would qualify both of them (TB and tenant) and maybe just have a clause in the L/O agreement that says the TB is responsible for repairs, etc but that you have to approve the tenant and the lease.