Hi There,
I’m from the UK and new to the forum.
I own a number of BTL’s in the UK but also 2 in Florida.
Yes I am one of those mugs who bought on promises !!!
I am hearing and learning more about Lease Options and am thinking it might help me with my US properties.
As the rent doesn’t cover my costs it appears to make sense to find someone to long let then purchase. One of them has been let on this basis but with no lease option agreement (that I presume I should have got)
and the other normal sporadic renting.
I’m sure this is normal type of transactions for you but could someone please put simply best suggestions for me
and
ways of finding people who could be interested in my property.
(I know all the regular avenues in the UK but not in the US )
Many thanks for any help.
Kaz
English property investor !! :rolleyes
Kaz,
To do a lease option, you need three separate documents. You need a lease (which you already have in place), you need an option agreement and a purchase contract. You want to keep these document separate.
Now, to find tenant/buyer, since you are in the UK, you would need to use the Internet effectively. Post an add for rent-to-own on craigslist.com in the state and city section where the property is located. I am sure that there is plenty of competition right in Fla. You can also put an ad in the local newspaper.
What part of UK are you from? I have family in London, and I visit sometimes.
Good luck.
Hi Icebergtec
Thanks for your reply.
Just the name of Craigslist has helped me.
In England we have something called Gumtree which appears to be
very similar, but if you don’t know the name, its hard to work it out !!!
So I will be putting an ad on Craigslist and see what that brings.
If anyone else has any creative ideas or knows people in the area of Haines City Florida, who could help me, that would be great too.
I’m a Londoner who now lives in Southampton (its on the South Coast).
Anyone want any help with anything to do with England ???
thanks a lot
Kaz
Yes…what exactly is a “crumpet”?
LOL (just teasing you by the way!)
Keith
One never refers to just ‘crumpet’
its always got to be a ‘bit of crumpet’ !!!
lol
Kaz
Kaz - If you were to set up a website with pictures and such, you couold direct them several ways:
craigslist.org which you already know about
backpage.com which is similar to craigslist
bandit signs - since yoiu are not int he area here is a company that will place them for you www.thesignbandits.com
Also, I would see about a real estate investment club near there and see if they have someone that will list them on MLS for 100.00 or so.
Good luck with them.
Even more to add to my list thank you.
Yes I must get a website with the info on.
I’ve done leaflets which I’m now putting out around here (southampton)
to rent it out but that is unlikely to lead to selling.
I’m also interested in any mortgage brokers (depending on if I sell)
as I am overpaying on a repayment mortgage but know it’ll be
hard to find someone to lend to me - a foreigner - interest only on
a rental !!! :cry