It is a viable strategy in the vast the majority of the country. Some places are more easy to apply it. For instance, are the majority of the homes facing foreclosure owner occupied, primary residences? If not, then the strategy is harder to apply. Also, how is the local economic situation there, is it stable? Are people losing their jobs enmass, stretched thin? If it is not stable, again, it might be harder to apply.
In this market, lease options are a VERY viable tool. Sure, there are markets that are GREAT for lease options, and others that aren't as good as others, but in general, lease options are very good for a down market. I've focused only on lease options for 8 years, and I am definitely in the right place at the right time.
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John Jackson
Tequila taster, pilot, lease options guy
Leasing to Buy,LLC
how do you do it with the market upside down ? you find people with no equity in this days so if you offer tolease the property from them aren't you goinn to take all of their bad debt? then how lease the debt to somebody else?
how do you do it with the market upside down ? you find people with no equity in this days so if you offer tolease the property from them aren't you goinn to take all of their bad debt? then how lease the debt to somebody else?
I wouldn't lease option from someone who is upside down on their mortgage. Go after the properties that have some equity. But the beauty with lease options is you don't need a lot of equity to make it a good deal unlike most other strategies in a down market.
Good Luck
__________________
"You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do the things you think you cannot do. Tough times never last, but tough people do"
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It is a viable strategy in the vast the majority of the country. Some places are more easy to apply it. For instance, are the majority of the homes facing foreclosure owner occupied, primary residences? If not, then the strategy is harder to apply. Also, how is the local economic situation there, is it stable? Are people losing their jobs enmass, stretched thin? If it is not stable, again, it might be harder to apply.
In this market, lease options are a VERY viable tool. Sure, there are markets that are GREAT for lease options, and others that aren't as good as others, but in general, lease options are very good for a down market. I've focused only on lease options for 8 years, and I am definitely in the right place at the right time.
John Jackson
Tequila taster, pilot, lease options guy
Leasing to Buy,LLC
how do you do it with the market upside down ? you find people with no equity in this days so if you offer tolease the property from them aren't you goinn to take all of their bad debt? then how lease the debt to somebody else?
how do you do it with the market upside down ? you find people with no equity in this days so if you offer tolease the property from them aren't you goinn to take all of their bad debt? then how lease the debt to somebody else?
I wouldn't lease option from someone who is upside down on their mortgage. Go after the properties that have some equity. But the beauty with lease options is you don't need a lot of equity to make it a good deal unlike most other strategies in a down market.
Good Luck
"You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do the things you think you cannot do. Tough times never last, but tough people do"