Different documentation for renting, renting to own, leasing, ect.
Hello. I am new at this and have a few questions about all the paperwork associated with these transactions. I understand the paperwork and froms that are needed in order to buy from a seller and sell to a investor, but i am having trouble with the renting idea. I have a family that contacted me two days ago whose landloard pulled their rental home out from underneath them because he wanted to put the home on the market. This family of 5 have been living in a hotel for months and have depleated thier savings. I have found a single family home for them to stay in and they are ever so grateful. They would like to rent to own. I have not asked them about leasing. What paperwork and forms do I need to fill out to get this off the ground? Also, what paperwork would I need if I were to just purely rent a property? One final question, would I be beter off buying the property myself with no money down (its an REO and I have pretty good credit) or would I get a better deal and be more legally sound from getting sued for any reason if I were to get an LLC and buy that way? Sorry for all the questions at once, im just excited to get this first deal under my belt and help this family out. My heart really goes out to them. I love helping people out and if I can make money while I do it, I guess that is my dream job!
Hello. I am new at this and have a few questions about all the paperwork associated with these transactions. I understand the paperwork and froms that are needed in order to buy from a seller and sell to a investor, but i am having trouble with the renting idea. I have a family that contacted me two days ago whose landloard pulled their rental home out from underneath them because he wanted to put the home on the market. This family of 5 have been living in a hotel for months and have depleated thier savings. I have found a single family home for them to stay in and they are ever so grateful. They would like to rent to own. I have not asked them about leasing. What paperwork and forms do I need to fill out to get this off the ground? Also, what paperwork would I need if I were to just purely rent a property? One final question, would I be beter off buying the property myself with no money down (its an REO and I have pretty good credit) or would I get a better deal and be more legally sound from getting sued for any reason if I were to get an LLC and buy that way? Sorry for all the questions at once, im just excited to get this first deal under my belt and help this family out. My heart really goes out to them. I love helping people out and if I can make money while I do it, I guess that is my dream job!
AnnMarie