You are talking about renting a home that is likely not a good rental property, it does not make good investment sense. You would be better off selling for less and getting your equity out of the property and investing it in a property that does make sense.
If you have a home that you hoped you could sell for $300,000 and if you did you would have $100,000 in equity, but you can't sell it for that amount right now so you lease option it for 2 years hoping that it will appraise for that amount then. You could sell it now for $275,000. You gain $12,500 per year in appreciated value. In order to make this a good investment property it would have to rent for at least $2,000 per month plus whatever option money you agree to. The buyer is paying an equivalent to 8% interest which they might be able to get a loan with an interest rate like that and on top of that if they are waiting for another home to sell then they have an additional payment to make.
If you were to take the $75,000 and put it into a good investment property or stocks you would have made more money. In a lot of cases it would be beneficial to sell for less now and put the money in a CD and it would make as much money and it would be less risky and more liquid.
If this is a home you lived in then you have to worry about capital gains tax after 2 years.
Generally speaking, lease options have few benefits to either buyer or seller in most cases. There are a few situations that it could be beneficial to the seller or the buyer but it is extremely rare that it would be beneficial to both in a single transaction.
I would have to agree that getting your properties listed in the MLS is a good idea. I do have some buyers who are looking for some rent to owns. Can you email me some information on your properties?
Selena McNeill, Broker
Century 21 Gold Country Realty
376 SW Bluff Drive, Suite 8
Bend, OR 97702
1-541-982-2243 Direct Fax
Licensed in the state of Oregon.
After that the Local Paper but only if you use a small teaser ad and watch your budget.... Signs are great of course...
Craigs List! Great place to use this and people is Bend use Craigs list just like anywhere else.
But the MLS can generate a ton of leads. The broker(s) just need to work out a program for you to pay them if and when the homes sells.
Good luck with this Andy. Sound slike a good startegy with the Bend Market slowing down.
Hope that helps.
Dirk T Knudsen
Re\Max Hall of Fame
#1 Rated Re\Max Team in Oregon