When you find someone that wants to do a lease
as an investor are you supposed to lease the house for the amount left on the mortgage?
or lease the house for the amount in equity?
or lease for the full market value?
most lease options base it a little above fair market rent. in some markets like in the midwest and east coast, you can have the rents cover all of your expenses.
id have the lease mirror the underlying mortgage, plus taxes, plus insurance, plus HOA, plus $300 in positive cashflow.
im using a triple net lease agreement in the residential market. triple net leases are commonly used in commercial real estate for single tenants. why not use the same concept in residential.
i wouldnt trust the seller to pay the negative cash flow unless they have excellent credit and they put up a contingency fund in case they default. if the seller does default on the negative cashfow, what will you do when the $hit hits the fan? are you going to pay out of your own pocket to fill the negative cashflow?
When you lease a property, the mortgage has no bearing whatsoever on the lease agreement. What are you trying to do? When I read through some of your posts you sound completely confused. Slow down and walk before you run, curiositygirl.
With all the questions I think she’s writing her own book. Herbster
Yes, curiositygirl, I think you need to read a few books or take a couple courses before you venture off into a deal…you don’t seem well prepared. Study up on this site for starters.
what i am saying is when i make a deal with people who do a lease what should i lease it for
the mortgage has everything to do with a lease if they just want to get out and the remainder of the balance is less then the fair market value
Anyway I wanted to know if when i approach aperson with a lease should i start offering just to make a lease contract for just what they owe on mortgage
Anyway I wouldnt talk Alex you have been on here a very long time asking alot of questions like you dont know that much. Look how far back your posts go and some of your questions are common sense things. As many qts as you ask I think that you are the one who needs to take more classes.
People check out all his previous posts — you are funny Alex
Yes I am a beginner and at least I can admit it. I am not like Alex trying to pretend I dont need more info, but when in all reality I dont know 2 much of anything.
We are always learning — and you can never learn 2 much information
Thanks to all the help aj — def con — dave t
WOW a slap in the face from the guy who told you about co-op’s. I don’t know about you Alex but I’m done with her. Herbster
The difference between you and I is I ask a question or two at a time.
You play 20 questions and want to know step by step instructions as if you were building a model air plane.
Yes, of course I have been on here asking questions, as have most other people on here; hence it is a forum. Find me one other post, besides your own, that has more than 6 detailed questions asked at one time?
I’d rather ask a question that is obvious, then to try and ask a question that doesn’t even make grammatical, let alone, logical sense. I think you need to learn how to spell before you get involved in a real estate deal.
Yes I am too; I think I’d have more success teaching my dog how to do a lease-option…
Hey I ask questions too ask Alex how many I’ve asked him in the co-op thread but sometimes you can ask too many questions and it gets annoying.
exactly, curiositygirl I apologize for some of the things I said. But there’s not too many that will hold your hand from start to finish; the ones that will want a good bit of $$ for doing so…
Most all of these people on here are awesome and will give you advise/help when you need it…I know they have truly helped me in my recent success; that’s the beauty of forums. Just don’t take a mile when given a foot, that’s all…
dont apoligize now Alex your true colors have now come out
you are low budget and have no class and that is exactly why you will probably have no success in life
comparing me to a dog is something that a peon would do this is supposed to be a site for investors and entrepreneur men and women who have dignity and respect
so if you are ever wondering why your such a big faliure in life take a deep dark look into the mirror
GET OUT OF HERE IMPOSTER THIS SITE IS FOR REAL MEN
I regret sharing with you the information I did, but now that I think about it, I’m not too worried about you being able to use it!
My heart goes out to any poor homeowner you try to help…bless their heart…
…you’ll be lucky if you sign your name the right way.
If you two have personality conlflicts, please take them out of the Discussion Forum and go to PM - or better yet, just drop it and get over it.
Keith
Moderator
You are right Keith I will end it
Alex is not even worth the doo doo on my toilet paper that I wipe my
Curiositygirl, Are you even old enough to purchase property? That immature response sounds similar to something my Junior High child would say. :rolleyes
I was thinking that myself lol :biggrin
And I did not see anything that Alex said that would warrant the backlash he’s getting from here. All he said was that she should go and read up on some books and courses which I agree but she took offense to that and started to slam Alex for no reason.
Like I said
I am done arguing back and forth with Alex
You are both right I shouldnt go down to someones level like Alex, who compares people to dogs and stuff –
he is at a low level ---- and I apoligize to everyone for going there.
Degenerates should just be ignored
Sorry for carrying on so long
kisses to you Mr Investor —
and to you
Mdhass
I hope you are both having a wonderful day
Right, I had to stop and try to think of a reason why she was so mad in the first place?? I mean I didn’t know sharing knowledge and explaining that you need some education in this business was so terrible…
I’ve decided she’s not even worth thinking about; I’ll be the bigger man and walk away. This board is for learning and sharing advise…sorry not a drama forum!! Unless it has to do with making $… :biggrin
Keep me posted on any CA deals you have going! Can’t wait to share success in this niche.
Are you 2 married? :argue