Clarification

On page 36 of your Income For Life book, can you tell me why at the time of sale to the tenant in a rent to own agreement that you get your down payment back? It's not adding up to me.

Thanks,
Joel

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Dec 08, 2015
re: Clarification
by: Tom

Hi Joel,

Thanks so much for the question!

If you buy a house for $300K and put down a downpayment of $50K the mortgage will be $250K.

If you sell the house for $350K you pay off the mortgage and are left with $100K.

$50K of that is profit and the other $50K is your original downpayment.

Hope that helps clear it up!

Tom

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