Lease Option

Hello all. I would like to know how the lease option works. In the town that I live in in Kentucky there are alot of homes for sale that are under $50,000.00. I know that mortgage companies don’t really write a loan for under this amount. If I did a lease purchase on a property, how long would I have to wait or could I go to a bank and try to get a home equity loan to pay the note holder and get some extra money to help with fix up costs? I really don’t have the money to pay off the homeowner and do fix up. Any ideas?


A lease option can be structured in numerous ways. For example, you can lease with an option to purchase from the homeowner. Then, you can sublet the property out to a tenant/buyer. Your profit comes from the spread between the two sides of the deal.
Or, you can take control of the property with either a lease option or with a Pure Option, and then assign the deal to a third party.
That’s but two examples. There are other ways to control the property and profit from doing so. Do some reading up on the subject and you’ll find it very interesting, to say the least.
And who say’s lenders don’t make loans for amounts under $50K?