Lease Option Question
I am considering purchasing a single family home in az with a sizeable cash back allowance the problem is the cashflow will be negative about $300.00 a month can I you use a lease option to correct negative cashflow to a positive cashflow or at least enough to cover the mortgage? your replies would greatly appreciated.
Yes, just be choosy about the Tenant/Buyer you pick, and tell him/her/them that you need a rent amount comparable to what a mortgage payment will be for them in 12 months, so they can prove to the lender that they will be able to afford the mortgage.
[addsig]
Thank you lease option king!
You could just get 100% financing on both of them. But depending on the tax rate, etc, they would be hard to cash flow.
Thats what I was thinking... 720 low score? You could take this to 2 or 3 lenders off the top of my head that would finance them 100% no problem. Even on a stated income loan.
Ronin
Quote:
On 2006-09-08 06:55, mcole wrote:
You could just get 100% financing on both of them. But depending on the tax rate, etc, they would be hard to cash flow.