Walking away from closing with cash

General Real Estate Investing
1

Hi everyone,
In a lease purchase how do get paid at closing seeing I don’t own the
property?
Can someone give me an outline of a sinario?
Thank you.

2

  1. Get owner to sell house to you via a lease option with the option fee being $10 and the monthly payments at such a price that you can earn at least $100-$200 per month from the spread against the monthly lease your tenant will pay. Give your self at least 2 years on the option period.

  2. Make sure that you don’t have to make payments for at least 6 months or until you bring in a renter.

  3. Advertise the property as a lease option with ads and signs

  4. Have the tenant deposit a non refundable option fee to YOU. Tenant signs a lease agreement with your mgt company and a purchase agreement with you

  5. Collect monthly rents, pay your portion of rent from the amount collected

3

Thank you for this great info. but I’m familiar with the lease portion but
how about when the tenant decides to purchase.
At closing as a third party how do I legally walk away with my spread?

4

If you mean when they get a loan, just have an invoice signed by the seller sent to closing attorney

5

How does the invoicing work?
Please give me details.

6

Basically, it’s a bill from the seller. the invoice will let the closing agent know to send money to the seller for the sales price between you and the seller.