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06782 : Real Estate Advice

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  • Home Buying2
  • Home Selling0
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Activity 3
Sat Sep 9, 2017
Kathy Burgreen answered:
You need a reality lesson. There are plenty of investors available and most realtors have them as clients. HOWEVER, these investors are only interested in 1 thing - making a profit. Therefore, in your situation, the investor will buy the farm and rent it back to you for a HIGH rental amount.

The investor needs to make money, so your rent amount equals:
The cash price paid for the property divided by X number of months / years
Property taxes (since taxes are paid semi annually or yearly, this amount will be divided by 6 or 12)
Homeowners insurance (annual amount divided by 12)
Maintenance (the investor will estimate yearly maintenance costs and divide by 12)
Labor (the amount of time involved with paperwork, landlord issues, etc.)
Profit (any amount the investor feels they need to have in their bank account after you paid for the above expenses)

Bottom line - this is NOT worth it!!! You will end up paying the investor thousands of dollars more than what the farm is worth - meaning you will lose plenty of money. Typically, investors do buy properties, then either renovate them and re sell them OR they rent it out for high monthly rents. To the investor, it's all about making money.
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Wed Sep 6, 2017
Vicky Arcovio asked:
I'm looking for someone to buy the property and then rent it back to me until I can get a mortgage to buy it from them.
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