this post was submitted on 13 Sep 2024
1 points (100.0% liked)
Memes
45745 readers
110 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I have and officially on paper he is a normal renter. Since this kind of deal doesn't happen there's really no system so his payout is a handshake deal on sale, as of now only around 8%. As for if the property is kept, once fully paid off he would receive a yearly dividend of what was made off rent, which wouldn't be much as we won't charge much above operating and maintenance cost. Truthfully keeping it is the less likely option as we would like to sell so he can walk away with a decent down payment on his own place.
So if you don't sell it, and instead rent it out to other people, he'd get a portion of the rent the future tenant pays? And I don't supposed said future tenant will also get equity?