Any ideas on how to find motivated investors to do lease-option? I am an investor/agent in northern virginia and while I have invested personally in a number of these deals, I am in need of more investors. The premise is, the tenant and I go looking for a motivated seller with a house in their price range, once a home is found, the investor and myself do a walk-through and agree on a price that is below market value. I make the offer with a 3% concession for closing costs and set up the lease-option contract. The lease-option has a built-in 10% return for the investor, so if all works the investor is making money on the back end. As a fail-safe, we buy the properties right, so in the case of a tenant that walks away from the deal, the investor can sell the home and still make a profit. I have a large source of tenants, but again, I am in need of investors. Any ideas of how to market this program???
Where I am in NE Ohio, we have a broker that is making a killing doing exactly what you want to do. His name is Rob Minton. He wrote the book “Income for Life”…what his marketing campaign is. Others from around the country are picking up his program for themselves. PM me and I can give you more information. I might be interested in doing some of these deals with you, too, if it’s already prepackaged and ready to go.
Why are you taking such a multi-level, complicated approach to doing a simple lease option?
Do some marketing, find some motivated sellers, (and in today’s current markets, it isn’t nearly as difficult as you might think), and make your offers. The deals will fall.
If you have a large pool of potential tenant/buyers as you say, your efforts need to concentrate on finding the homeowners.