Lease Option

General Real Estate Investing
1

Hello All,

I have a house that is for sale with a realtor. I just purchased this house back in Jan 2005. I bought this to fix up and sale. The house has only been listed for 40 days but no bites yet.
I was contacted by an invester who wants to do an assignment lease option. He told me that he will put a renter in my house and within 3-6 months this person will qualify for a bank loan.

I’m meeting with him to discuss this option. Is there anything that I should be looking out for? The house is paid for and I’m in no financial need to sell this quick but I do want to sell.

Thanks,

Todd

2

It sounds like an ok deal to me, I would take it, but I caution you, I am new and still learning about lease options. It seems a bit fast for the person to qualifiy, lease options usually go for 12-24 months. You would probably want to probe to see what is stopping the tenant from buying now vs buying in 3-6 months…

3

Why don’t you just do it and make all the profit yourself?

KEC