Lease Optioning in IL

General Real Estate Investing
1

Hi all…I’m interested in finding out if anyone here uses L/O frequently in Chicagoland. If so, what are your experiences? Do you feel it works well in our area?

Also, as my focus area is Southside and South Suburbs which are very thick with “adult communities” in patches, I’m also interested in your application of this option with mobile homes, if any.

With all due respect, please don’t tell me a lease option is bogus and to use a NARS trust instead. Please don’t tell me that soon it will be outlawed in IL just like TX so use a NARS trust instead (actually it is not outlawed in TX either just harder to do, and won’t be outlawed in IL just possibly harder to do). I know all about the NARS trust. It is an Illinois-type trust. I know the 41 reasons to do a NARS trust. But I don’t want to talk about the NARS trust. I am only talking about Lease Options/Lease Purchasing in IL.

Thanks :-*

2

I have been using LOs for a long time here in the Chicagoland area. I normally sell on this idea, but on occasion have done a LO wrap on buy then sell.

I utilize it all the time to get out of rehabs I have done. It is a great exit strategy.