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pottermx137 Category:
Current Grade: A
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 Posted on: 03/08/2008
Posted by: pottermx137
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Does anybody know that if a tenant buys on a rent to own basis whether the monthly payments he makes to me go towrd the price of the house. Or do his payments dont get tallyed up, there just regular rent payments. Im not sure how that part works.
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Cleanslatehomes

Posted By: Cleanslatehomes on 03/10/2008
In this market I recommend doing a lease purchase for anyone.  The way we structure our deals is to give the tenant as much rent credit as possible, 50-100% in many cases!  I am not in any way endorsing the countless number of people trying to transact lease purchase deals with little or no knowledge and free boiler plate agreements from the internet.  What I do recommend is that you find someone like ourselves who has over 30 years combined experience in lease purchasing and has designed and drafted their own agreements custom tailored to each specific situation.  When I started my lease purchase consulting business I read all the books and took all of the seminars and only found one legitimate guy who has done it.  That's why I decided to build my business based on what he has done successfully for over 25 years.  For more info visit www.cleanslatehomes.com
 
Real Estate Investor
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Posted By: Real Estate Investor on 03/09/2008

Great question,

You can write a lease any way you like.

 We do them with $50 per "on time" payment the first year, and the 2nd year we raise the rent a $100 subsequently $150 a month goes to principle.

Sean

 
JohnBoy
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Posted By: JohnBoy on 03/08/2008
It depends on how you write up the lease.  I think most times a portion of the monthly rent goes toward the down payment.