Lease Option Question

Example I buy house from owner as a Lease option purchase with minimal cash down for a 2year lease, I immediately advertse house on craigslist and my websight or i call up one of those yellow and black “I BUY UGLY HOUSES SIGNS” and find another buyer and sell to new buyer with higher down payment and higher rent.

What’s the question again?

Do i need to hire lawyer to do this legally


what kind of documents do i need to do a lease option

First of all, you should keep in mind that the real estate investor’s magic number is 70% ARV (they will pay 70% of what the house will be worth when sold, minus any necessary repair costs). So unless you are getting the house for an insane deal, I would not count on HomeVestors (buyers of said ugly houses) to be buying them from you for much of a profit to you, if any. So you will probably be most interested in a traditional home buyer. All you need is a lease option contract and a sales contract. You should be able to get them for free from the internet or other investors. Then you will just need to plug in your particular details (home’s address, legal desc, etc, buyer’s info, seller’s info, lease option terms, sales terms, etc).