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From: Mike .
Sell & Stay concept
From: Jacques
Date: 12 Jan 2001
Time: 14:15:26
Browsing through investment books I came across one entitled "Sell and Stay" by Kevin Shiels. It goes into the details of how retired people put their house on the market, and lease it back. For the investor, it means paying 30% of the price upfront, and 70% interest free when the vendor dies or moves elsewhere. The vendor gets the right to stay in the home for life, or until they choose to move.
There is no rent to collect, but then no interest to pay (apart on the 30% down payment, I guess). No maintenance (well, that is if the elderly vendor will take care of his or her home, which they might do if they are living in it), no vacancy problem, and supposedly, the tenant would be problem-free.
Has anyone had any experience with this concept? Any thoughts, opinions, advice, comments?
Cheers Jacques
Sell & Stay concept
From: Jacques
Date: 12 Jan 2001
Time: 14:15:26
Browsing through investment books I came across one entitled "Sell and Stay" by Kevin Shiels. It goes into the details of how retired people put their house on the market, and lease it back. For the investor, it means paying 30% of the price upfront, and 70% interest free when the vendor dies or moves elsewhere. The vendor gets the right to stay in the home for life, or until they choose to move.
There is no rent to collect, but then no interest to pay (apart on the 30% down payment, I guess). No maintenance (well, that is if the elderly vendor will take care of his or her home, which they might do if they are living in it), no vacancy problem, and supposedly, the tenant would be problem-free.
Has anyone had any experience with this concept? Any thoughts, opinions, advice, comments?
Cheers Jacques
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