Has anyone heard of the Andy Heller method of no money down lease options where you charge a higher rent and lock the leasee/tenant in for 3 years? We already own the home and are looking for creative ways to beat out the competition in a highly saturated leasing market. I wanted to get feedback on this method. Thanks!
Never heard of andy heller but whoever tells you don’t need money to do a no money down is sadly a misconception. Now there are circumstances where you can get the seller to pay you a few months and then have your buyer already lined up. But that is a small chance. Unless you have a full business model set up that way.
There is alot of hidden costs that some investors don’t realize when buying a property.
In my market a property that is a DEAL for me to buy that requires me not to give the seller any cash will on the average cost me about 6-8K per deal to get it filled. Most of the time I borrow that but there are alot of times I don’t.
Thanks for the reply!
Maybe I should clarify. We already own the home and are trying to rent it again. We are looking at creative ways to lease option.