Legalities of Sandwich Lease Option in NC

General Real Estate Investing
1

I just met with an attorney to review my contracts for the seller side and the tenant/buyer side of a sandwich lease option. While he had plenty of detailed insight to improving the wording in these contracts his opinion on the legality of this type of REI was that it was a “scheme”

Can anyone (familiar with NC law) tell me how they make these deals work? How can you sell a property that you don’t “own” without having to come out of pocket for the entire sale amount to the seller? And how do you avoid the need to “season” the deed to avoid anti-flipping laws?

2

First, get another attorney. A “scheme”? This one is incompetent and ignorant.
As for doing these deals in NC, there’s a guy on Carbonare’s board from NC who has been “scheming”, I mean, doing lease option deals for a few years. His name is Steve and I’m sure he can give you some insights.
Good luck.

3

Thanks! I’l check it out.