Looking for a Innovative vendor

[tbow]

Hi all

We've been trying to find a rent to buy here in Hobart with not much luck. Local innovative vendors are focused on their own properties, often in areas undesirable to us, and with other vendors who have been renting/selling traditionally we have had some interest but never managed to get it over the line.

We've been clearing debt prolonging the life of a bad business. We could have a deposit in the next 12-18 months but in the last 18 months we've been clearing debt with been staying in a less than perfect setup and are keen to get our own place again.

Given the flat (declining?) market here we would be hoping for 100% of rent to come off the price, at least a 2 year term, and purchase price is where we'd give.

We'd like to find the property or a choice of them and either we can negotiate or you can if you wish.

Shot me a private message if you are interested in having a chat.

Cheers
Tony

 

[spludgey]

Given the flat (declining?) market here we would be hoping for 100% of rent to come off the price, at least a 2 year term

What idiot would ever agree to that? Unless you inflate the purchase price accordingly obviously, but that would defeat the purpose.

 

[tbow]

You obviously are not very familiar with these types of deals spludgey.

If we're asking for 100% of rent then yes, it is the purchase price which then vendor will increase to reflect that. A good buy now and value add during the lease (sweat equity) can counter that increase so it doesn't defeat the purpose.