Need help fast!!!!

General Real Estate Investing
1

I need to get my house off my debt list so I can get into another. I need to either lease it, or rent it. Tell me please how to set up a lease option. Here is my details

1.Paid 40k for the house
2. worth about 50K
3. $379 per month

I’ve lived here about 3 years and I am ready to move on. What should the asking price be on a one-3 year lease?

How much should I get down?

what should the monthly payment be for whoever I lease to?

How much of that payment should be credited to thier down payment?

Any help would be greatly appreciated.

2

I don’t know the area but my guess is that rents are 450-500/mo. Cruise the neighborhood and ask. Ask a rental company.

Get with someone in a local RE club and get the forms and advice on a L/O. Guess is you will find people with poor credit and have 1-2K at most. You don’t have to give a credit unless you want to raise the price a bit to cover it.