Quote:
Originally Posted by barry123400
Wonder if it may be a worthwhile consideration of getting a fixed price option to buy when renting if area prices are tending upward 25 percent in the last year? Otherwise you may live to regret not buying on arrival. Then if prices escallate further even if you do not want the place you should make a profit. If not just do not exercise the option. Not much downside here. The option may have little to no cost. A lot woulkd depend on your abilities on the otherhand there is nothing like the present time to learn. As my grandmother used to say money and oportunity are made with your mind not your hands.
If there is still excess supply you should be able to do this fairtly easy. At forty eight days average listing time though it does sound like that may not be the case still. There also could be a surplus with properties being held back to give an appearance of less supply than is really there. Games in this current economy are probably almost endless or might become so.
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It might be a good idea to entertain the idea of a "Lease Option" deal on a really nice house you found, where you rent it from an owner, that wants to sell, but 40-60% of the rent is also applied to the purchase price.
It's good for the owner if he gets a stable renter that takes care of the place and would like to buy; Bad renters can really trash a home and cause probems...
It's a cool way to get in, if the owner agrees, and you found yourself liking the house after a year or so, and *IF* the owner agrees to this, the percentage is individually negotiated.
It is not a commonly used concept inCaifornia, but it can be a win/win situation for the owner and renter.
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