I’ve read a lot (books and forum posts) and would like to get started. I believe I’d like doing l/o and sub2 deals the most. I’ve went to 2 out of the 3 biggest rei clubs in my local area (milwaukee, wi), and will be attending the 3rd club soon. I have not been able to find any local investors that do l/o or sub2s yet. Most do flips (rehab and sell) or buy and hold. So I’m left wondering if they are just not good strategies for this location. How can I tell? I’m not talking about for holding at the end, but for either l/o or selling.
What areas are prime for these deals? What percentage of places leased with option to buy actually have their tenants exercise the option? What is the median capital needed for lease options and for sub2s and how much in emergency cash? Being new, I don’t want to be the first trying this out around here.
I am a pretty self-motivated independent person, but it seems everyone learns through mentors. I don’t want to pay someone up front and get screwed (done that in my past). Would anyone being willing to work with me for a split of profit, if you believe these strategies can work in my locale? It keeps both parties working for the same goal that way. I know you can’t solicit here, just PM me.