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David Stockel, Builder Specialist and Real Estate (Smart Realty)

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6,662,159
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Why? and Why?

Oct 03, 2017 04:57 PM
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Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I would simply keep your home - ownership is going to be a more financially sound move in the future. 

Oct 03, 2017 09:35 PM
Rainmaker
2,229,820
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

So what is the question?

Oct 04, 2017 04:36 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Good luck.

Oct 03, 2017 04:21 PM
Rainer
424,263
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

My suggestion: If you want to reduce the burden of the cost of the home in PITI you can't afford the market rent plus the profit an investor will desire.  If you can save up 25% from sale of house and file a tax return with Net not gross income that qualifies this will get you back into the real estate market. 

Oct 04, 2017 12:52 PM
Rainmaker
602,025
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

What is the question? Are you looking for affirmation? Why can't you sell the home? 

Oct 04, 2017 05:13 AM
Rainmaker
1,153,799
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

And your question is?

Oct 03, 2017 07:48 PM
Rainmaker
1,097,545
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Why would you want to sell your house and buy another one?
As for leasing back, guaranteed income for a good amount of time w/ annual increases may be attractive to an investor if the deal makes sense. But perhaps, and I'm shooting in the dark because I don't know your situation, you moving into an inexpensive rental and then renting your home for the best possible amount which hopefully exceeds your mortgage obligation allowing you to put money away every month might also work. If you can reveal more about your situation that could be helpful. But go back to the initial question: why do you need to trade up, if that's what you intend?

Oct 03, 2017 04:31 PM
Ambassador
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Be sure to use a real estate attorney to draw up the contracts, forms, lease, etc.

Oct 03, 2017 04:26 PM
Rainmaker
5,460,208
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

My first question is why? Did you not allocate sufficient finances for the transition

Oct 03, 2017 04:14 PM
Rainmaker
1,713,581
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

You need a bit more background as to why you are doing this. You are increasing your expenses. Are you in financial trouble?

Oct 03, 2017 04:10 PM
Rainmaker
1,535,414
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I think some more information is needed here.  I'd be wary because owning is more profitable than leasing and rents tend to be far higher than mortgages out here.

Oct 04, 2017 10:06 AM
Rainmaker
1,007,423
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Perhaps speaking to another lender would help?

What is the excuse they are givig you?

Oct 04, 2017 08:30 AM
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

A little too vague to speculate on a solution for you.  Have you received financial counsel that this is a good way for you to go?   If so, there are options.  If not, please do get counsel.

Oct 04, 2017 06:53 AM
Rainmaker
4,800,282
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good luck.

Oct 04, 2017 05:40 AM
Rainmaker
825,785
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

I would keep your place and try to save up for a new place. Chances are you are going to pay more to lease it back than what your mortgage presently is. They are going to want to make money on their investment. Good luck.

Oct 03, 2017 05:02 PM
Rainmaker
381,362
Ben DeHaven
Haven Realty & Investments - Lakeland, FL
Proudly serving Central Florida!

I'm with Joe. Seems a little odd. 

Oct 03, 2017 04:13 PM
Rainmaker
1,749,577
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Bon Chance! With patience and a well-plotted plan with the assistance of legal counsel, you will get there.

Oct 06, 2017 07:33 AM
Rainmaker
3,074,289
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

Debe Maxwell, CRS nailed this one!

Oct 04, 2017 05:59 AM
Rainmaker
931,308
Jeff Pearl
Samson Properties / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Not easy finding an investor that wants to do a lease back. If you do, it's doubtful they will pay full market value for your house. You might have to line up a rental somewhere else until you're able to buy again. Other solutions might be to stay put and get a part time job for a couple years.

Oct 04, 2017 04:34 AM
Rainmaker
5,288,738
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

I don't understand your question. There's no reason you can't sell your home whenever you wish and under any conditions you wish to sell so long as you have a bona fide buyer.

Oct 03, 2017 10:49 PM
Rainmaker
4,322,035
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Wishing you all the best David Stockel.

Oct 03, 2017 09:40 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

why?  if you are in financial trouble try and work it out with a lender or refi.

Oct 03, 2017 09:34 PM
Rainmaker
920,253
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

That might make a lot of sense if you find an investor-buyer that would agree to the arrangement. Risk: you may have to find another rental for yourself.

Oct 03, 2017 07:20 PM
Rainmaker
756,635
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Get advice from your managing Broker and follow it.

Oct 03, 2017 06:53 PM
Rainmaker
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Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Ok. Sale and leaseback can work very well. Will you incude an option to be able to buy it back?

Oct 03, 2017 06:16 PM
Rainmaker
544,114
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

There are numerous creative solutions, but need more info regarding the problem that needs to be solved.

Oct 03, 2017 05:38 PM
Rainmaker
5,584,478
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

you got some splainin' to do Lucy....

Oct 03, 2017 05:25 PM
Rainmaker
4,721,936
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi David - I don't exactly see a question here but the scenario you present has me asking a few of my own.   For starters:  Why?  When?  Who?  What?  How?   

Oct 03, 2017 05:12 PM
Rainmaker
8,125,230
Roy Kelley
Retired - Gaithersburg, MD

I hope you have a good relationship with your real estate investor clients.

Oct 03, 2017 04:38 PM
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Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Lease backs don't seem to work too well. I think you might want to figure out another way.

Oct 03, 2017 04:31 PM
Rainmaker
3,416,372
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

The first thing you know, is an investor does not want to buy a home and let the seller lease it back, maybe at half price. Investors want to buy, fix and sell.  As an agent you should know if you can buy a home before selling the one you have. My listings sell as fast as i can list them, if it is not selling it can be over priced, or no one knows it is for sale. Maybe you should rent and not buy another?

Oct 03, 2017 04:23 PM
Rainmaker
2,071,135
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

I hope you got on the truck and sold it.

Oct 17, 2019 04:27 PM
Rainmaker
1,598,552
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Strange...

Oct 17, 2019 11:40 AM
Rainer
321,664
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

As a newer agent, you have not got the resources to buy a home without selling yours? A lease back for home owner may not be easy to find right now at an affordable and fair price.  

I know here in Texas, if your financially in a good place to purchase and have a lease contract on your home you may be able to buy that new home.  Otherwise, hang in there and make the move once your capable. 

What are you trying to do? 

Oct 07, 2017 10:04 PM
Rainmaker
5,986,056
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

In our state, if the buyer of your home finances your property, they have to take possession after 60 days or it will be a rental.

Oct 06, 2017 07:21 PM
Rainmaker
4,434,227
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck

Oct 05, 2017 05:40 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

What is your question?  

Oct 04, 2017 09:34 AM
Rainmaker
1,466,257
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

David Stockel You need to do an own vs. lease analysis. You may find your house payment and tax deduction is more benefical than renting.

Oct 04, 2017 06:40 AM
Rainer
55,673
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

I do not think that deal will work. First, most mortgage lenders need two years in the same line of work. Second, you are telling a lender that you need cash. I would however try and sell your home to a buyer,and make the lease a separate deal away from closing. This way the "Qualified" buyer is responsible for payments and you still keep your residence. A serious investor may "jump" at this deal. The problem may be the down money.

Oct 04, 2017 06:30 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

That is a business model that is present in the Tampa Bay area.

Are you seeking the name of the company that acts as the 'lease back' owner?

In the transactions in which I was involved, they paid market price for the house and the citizen buyer/occupant was pleased with the outcome.

I do not know the magic occurring behind the curtain or the goal/strategy of the purchasing/leaseback company.

Oct 04, 2017 06:26 AM
Rainer
183,015
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

This will be good option if you are trying to complete 2 years in same profession. You will not have mortgage payment so your dti will be comfortable. 

Oct 03, 2017 07:50 PM
Rainmaker
1,260,083
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 get busy on marketing....

Oct 03, 2017 07:41 PM
Rainmaker
3,986,473
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Does not make sense.  Just stay and make your payment for a year and work hard and you will save a lot of money

Oct 03, 2017 06:57 PM
Rainmaker
2,840,724
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Whatever you do, think it through. Be aware of your risk tolerance & greed

Oct 03, 2017 04:40 PM