Can You L/O A 389k Home?
Reason being..I can buy a home appraised for 389.5k for 338 at the most.
I have a friend buying it cash. Can we L/O this to a buyer? Has anyone had experience in renting a home this expensive or is it better to sell for top price?
Thanks![ Edited by riot8ap on Date 02/26/2004 ]
Your market will dictate. I've seen it done in Las Vegas, Nevada
When structured properly, L/O is a safe way to go. Keep in mind the higher price ranges have fewer buyers thus your carry costs are relevant.
Our business model does not seek to remain involved with homes in this price range.
Eric & Rosa
[addsig]
If you really want to know if you can fill it then stick an add in the local paper to see if you get any calls. Take notes to see how much they have for a non-refundable option consideration and how much they can afford a month. Be sure to get their name and phone number.