Possible LO Deal
I have not completed a L/O yet and I am trying to figure out the purchase price for a property.
Owners RV opinion $155000
My RV opinion from comps is $148000
Here are the details of my offer so far
L/O to homeowner:
$1000 down
$1000 per mo for 36 mos
I L/O to prospective buyer for:
$2500 down
$1500 per month
My questions are what to do with the purchase price?
Offer the $155,000 for the 36 mo period considering the homeowner will gain $8000 more equity on their orig mort plus $5400 ($150 per month) from my $1000 rent payment?
or
Offer a 3% (or other %) yearly increase to the price depending on when the option is exercised?
The property also needs carpert and paint...that should come off the ultimate purchase price .....correct?
Thanks!
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