How to do rent to own in mississauga brampton toronto

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Information about How to do rent to own in mississauga brampton toronto
Real Estate

Published on March 16, 2014

Author: dinhdoit

Source: slideshare.net

Description

How to do rent to own by yourself
rent to own in Mississauga Brampton Toronto
More info at
http://www.youcanbuyhouse.com/rent-to-own-homes/

Rent to own solution • Bad or no credit but high income • Good credit but does not enough down payment • The bank say NO, Bankruptcy . . . • Tenant still rents the house, pays the rent, but they can purchase the property any time in future with in maximum 5 years.

Investor • Purchase house $ 400,000 • 20% down $ 80,000 • Mortgage $ 320,000 • interest rate 4% • monthly mortgage $ 1,500 • property tax 3000 year $ 250 • Insurance $ 100 ------------------- $ 1,850 • Total invest • 1.5% closing cost $ 6,000 • 20% down $ 80,000 ------------------- $ 86,000

Investor offers rent to own with in 24 months, rent for $2,000 per month + utility and 3% appreciation • Rent for $2,000 • Rent credit (nonrefundable): $ 150 x 24 months $ 3,600 • 3% Deposit(nonrefundable): $12,000 $12,000 $15,600 Sale: 3% appreciation 1st year: $412,000 2nd year: $424,360 x 5% down $21,218 Tenant purchase the house $5,618 How much you make $39,360 $424,360 - $400,000 = $24,360 Mortgage pay down: $15,000 Total invest in property $74,000 = $86,000 - $12,000 Return on invest $39,360 / $74,000 = 53% Tenant buyer

Thank you so much Question and Answer Dinh Nguyen (647) 287-9769 youcanbuyhouse.com

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