lease/option for high end

General Real Estate Investing
1

Thank you for any help you can give. I am going to lease option a high end property. I will by looking for a tenant/buyer with a rent of 4000.00 and an option of $999,999.00. My question is: Is there any way to find these types of rent to own people. Any special places to advertise etc. Any help is appreciated
DavidG

2

The property is one million dollars and the rent is only $4K? Something isn’t adding up.

3

thank you for that note. Is there a rule of thumb for rent based on option price? What should a million dollar house rent for? The owner of the property has a 900K mortgage with a payment of about 3700.00. ( I assume interest only) She is no longer able to manage this mortgage and cannot sell the property.
Is this a good candidate for a lease option?

4

If you are talking about a sandwich lease option, then no, this property is not a good candidate for a lease option. Are you prepared to be on the hook for $4K/mo when you have a vacancy? You need to be looking at more mainstream, cookie cutter, median priced properties.