can you legally rent to own a home you are still paying on?

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can you legally rent to own a home you are still paying on?

2006-12-04 12:44:13 · 3 answers · asked by good son 1 in Business & Finance ➔ Renting & Real Estate

3 answers

I am a landlord and own several houses / apartments. I have some with a mortgage, and others have in the past. So yes, you can do this without a problem. Makes a good tax shelter as interest, repairs, real estate taxes are deductable on your yearly taxes.

2006-12-05 06:18:50 · answer #1 · answered by Midwest guy 4 · 0⤊ 0⤋

Legally? Probably. But only a FOOL would do a land contract on a property with a mortgage on it!

2006-12-04 12:53:45 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋

I don't see why not, but it's not a good idea!

2006-12-04 14:12:12 · answer #3 · answered by Eyebee 3 · 0⤊ 0⤋