OfflineIf I want to assign a Lease Option Contract, how is that done? Do I fill out all the information on the contract and use and/or assigns like on a regular contract? The owner is asking too much down for me to do a sandwich lease option..unless he can lower it significantly, there would be no money for me on the front side and not much in the middle or the end!!
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Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
how this popped up. I posted it yesterday, not today. But it's back to square one anyway. The owner decided to go with a real estate agent (again), but he said if it didn't sell in 2 months, he will go with the lease option. Bummer! But that's okay. I'll keep on keeping on until it happens.
Everything works out in the end. If it hasn't worked out, it's not the end.
You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer
It is what it is 'til you change it.
this link may help
http://www.deangraziosi.com/real-estate-forums/everything-else/71370/lea...
your Tenant/buyers option fee should be more than the option fee to your seller
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Mike’s right and here is a brief example:
A is selling his house, but hasn’t received many nibbles.
B comes along and convinces A to sell on an owner-carry with down payment of $5k and an interest rate of 6%.
B finds C, a renter with bad credit who wants to buy badly. C puts down $10k to B in a lease-option and pays 1% more interest rate to B than what A is charging B, and his rental payments are higher than B’s monthly cost.
B takes his $10k and skips to the bank, but he is the owner for a lease option period of say 1-2 years, at which time C has gotten his credit together and can get a new loan and everyone gets paid off. B is making a little on the interest rate, he’s cash flowing, he walks away with his original $5k to put down on the next deal and made another $5k for the time it took him to do his lease option with C.
Note: In many states, any leases longer than 2 years MUST BE RECORDED with the county recorder/registrar as constructive notice to the public and to preserve C’s interest!
A’s happy;
B’s happy; and
C’s happy.
Come on! Get Happy!