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How much is your house worth? What is the market rate for renting it? Curious to know who got the better deal.
We both made out great because the house, like anything else in the universe, is only worth whatever you can get for it and mine needs so much work is not even legally habitable.
Maybe 60K for the land, but the house is more of a liability than an asset at this point.
He has people who rehab houses with him so it'll work out great on both sides.
Interesting ask. Is there a legal document outlining the trade?
He is going to buy it for whatever the minimum is in my state (they used to allow people to sell cars for $1 but they changed it to $100 minimum to sell one so they get more in sales tax).
I imagine there is something similar in house sales, but I will get a written lease with the rent spelled out and he will fix it up while I just stay out of the way when they want to work.
I'm amazed I thought of it and even more amazed the they went for it!
I even have a verbal agreement that I can renew the lease if in a decade I am still struggling.
This guy runs a bible study group for whom I made some websites on the side years ago. Upgrading and maintaining them is part of the deal.
But this literally saved my life. If not my life then certainly the life of the woman I love - without whom my life is meaningless at this point.