Does anyone have any experience using only options, not actually leasing out the property. I have had several sellers call me who are willing to give me an option on the house, but they do not want tenants in the house, they want it sold.
I hate to think that I’m passing on some opportunities here, especially because I’m starting to receive more and more calls that may work with just an option.
Any help would be great.
Scot
Are they offering options at a discount or options at full 100% appraised value?
Usually with some sort of a discount. Most of the houses I’m considering an option for are above the median home price ($300k) here in Vegas. They range anywhere from $360-$500k with $25-65 in equity. They all have high payments and ARM’s so I’m not too keen on Sub2 for these.
The sellers are still motivated though so I’m interested in working with options.
Pure options work when a seller wants to cash out. It also good for properties you do not want to hold on at the moment. To work you need a good discount in order to assign the contract to a third party.
To your success,
Diana Fontanez
Lease Purchase Specialist and Consultant