I know the owner who knew I was in real estate. He mentioned to me that he needed to move but was under water. He couldn’t sell and was thinking about renting the house, but he didn’t want to have to deal with a renter. I discussed with him the possibility of selling the house with rent to own or assignment of contract. At first he didn’t understand or think it was possible. After a few discussions, he realized that it made sense to get the best of both worlds by selling the house and having someone else take over the day to day responsibilities. The owner actually helped find the buyer/tenant. They knew someone who wanted to buy, but couldn’t quite yet, but they also didn’t want to rent. I put the deal together by explaining how it worked for both sides. The seller agreed to pay me the upfront payment which was $3,000. The buyer can buy the house within 5 years for $270,000 and they are paying $1,700/month.
Great job Ryan
Way to go Ryan .
Letting folks know what you do, pays off…congrats!
Can I do this if the owners are behind with their mortgage payments?
Hello Ryan, thanks for the success story! It is very inspiring and well worth reading about. The $3,000 check is pretty good, and the deal works for you! Your determination, focus and dedication is really something else! Keep up the good work.