Need suggestions on a potential deal,2 bed Bungalow, semi det.approx value £212,000,for quick sale £195.000,mortgage of £155.000. Owner wants to move in with girlfriend so would like cash equity,but considering putting into Earnie for poss win or has heard poss income of £600 plus in small prizes! does not like banks.
Thought of 6o month lease option plus option for 12 month extension.

Intention being to obtain Option to buy with an AST agreement and let property on a Rent to buy option with movated tenant paying an up front deposit of £5000/£10,000 then standard rent of £625, seems to be lowest going rate for area plus £150? month to maintain option, with option to buy at fixed fee in future, 5 years max, this would be need to be about £295,000, covering mortgage redemption £155,000,owners cash equity approx £45,000,£10,000 for fees /legal and estate agents £25,000 for sellers growth,£30,000 for me and £40,000 in property as a deposit for buyers.
Does it make sense???? all comments appreciated poss first deal for me.

Hi Don,

Welcome to a community of like minded professionals where you will find some
great tips and help!

I have personally been involved in property for a few years now and learnt
so much from sourcing deals, negotiating and seeing deals through to
completion. My own area of expertise is deal stacking and thinking out of
the box in helping create working solutions.

Please do not hesitate to contact me if I can be of help in anyway & finally
good luck with your property business.

Take care for now :-)

Kind regards

Abrar

Welcome to what is without doubt the best property forum on the net.

Please let me know if I can help in anyway.
Thanks

David

Hi Don,

Here's wishing you a warm welcome to the forum and I'm sure you'll enjoy your stay!

Hope you'll find what you're looking for property-wise here, we're a very friendly bunch.

Kind regards,

Adam
24-7PropertyInvestment.com 25% Below Market Value Leads

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Hi there welcome to the forum

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Wishing you the very best with your property business.

To your Success
David
Fast Property Sale Network

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