I want to assign my lease/purchase

General Real Estate Investing
1

So here’s the situation:

Last week I signed a lease/purchase on a set of apartments that appraised at $350,000 with 60% occupancy.

I’m filling the vacancies but now I’ve got a buyer eager to purchase them from me.

The deal is:

$295,000 purchase price with seller paying $10,000 at closing to buyer and $8,700 towards closing costs.

My buyer will give me $350,000 for the apartments if I buy them with 90% occupancy and then immediately sell them to him.

He will buy the contract out for $40,000 now if I just assign it to him.

I don’t know if I can keep the occupancy up and buy them myself, so is if worth the extra $10,000 to try and work it that way?

2

Bottom line…What is your goal here?

Do you want to take the quick cash and run? Use the money to invest in more properties?

How long is your lease option? Will you make more money in the end by holding the property and letting it build equity? Can you wait?

Most of all…does your contract allow you to assign it?

Good Luck

3

I’d lower my burden and go for the quick cash, its only 10K less and
with the time saved you’d be able to make up the 10K + some.

That’s just me.