L/O Question About Rent Credits?
Hi, if I find a property that I want to L/O as my primary residence, how much of a rent credit should I ask for? HELP!!!!
Hi, if I find a property that I want to L/O as my primary residence, how much of a rent credit should I ask for? HELP!!!!
As much as you can get.... Why not ask for half. All they can do is say "no" and come back with a figure.
JohnCl
[ Edited by JohnCl on Date 03/31/2004 ]
Heck, ask for all of it take what you can get.
At the other end of the spectrum, ask for the reduction in principle which they recieve.
This is really a simple question, negotiate a rate of return for their money, run a mortage payment calcuation on that rate of return (and a long amortization schedule) and ask for a credit against the purchase price for anything above that (including the principle reduction on the payment)
Mark
Thanks for the great feedback!!!! BRI :~)