P
propertySean
New Member
Hi all, can you please help me?
I've a friend that is now a distressed landlord. I drew up a lease option to purchase the house but I'm having trouble with the calculations. I only have £6K to put down and I realise If I paid that in full I would have nothing for contingencies. Can someone please help me so that I can calculate the "term", "Option payment" any capital/contingent payment to lower the deposit using the rental and the management cost.
What I know... Current market value is 120k, rental is 600pcm (tenanted) and mortgage was 90% residential with consent to rent.
I wish to take over the property lock stock and barrel but i'm struggling with the figures.
Thank you in advance
Sean
I've a friend that is now a distressed landlord. I drew up a lease option to purchase the house but I'm having trouble with the calculations. I only have £6K to put down and I realise If I paid that in full I would have nothing for contingencies. Can someone please help me so that I can calculate the "term", "Option payment" any capital/contingent payment to lower the deposit using the rental and the management cost.
What I know... Current market value is 120k, rental is 600pcm (tenanted) and mortgage was 90% residential with consent to rent.
I wish to take over the property lock stock and barrel but i'm struggling with the figures.
Thank you in advance
Sean
