OfflineHere is the deal I 've been reading DG book Your Town Your Real Estate Profits. I came across Greg Murphy who mastered The LEASE OPTIONS strategy I like this strategy because it's low risk and I have no money no credit. I put out a couple of bandit signs and got some traffic on my phone. A seller called me and said that a real estate agent couldn't sell his house and it's been 90days. I said to the seller well are you still under contract with the agent and he said yes but he is going to take it off the market. I said great because I may be able to help you sell your home faster. I received another call from a women who is looking to rent a home or buy.
I started thinking Hmmmmmm this is a perfect opportunity to do a LEASE OPTION deal. I talked to the seller again and brought the idea up to him about renting to someone with a option to buy and he likes the Idea then I spoke to the tenant buyer and she likes the idea. So so far I have cooperation with both seller and tenant buyer. I bought some time to next week to gather all the information I can to make this deal work I need forms And guidance from DG family I'm going to meet with the seller Monday I better know what I'm talking about and how to execute HELP
Good to hear you're taking action. If you're looking for advice if it's a possible deal, you need to fill in some more numbers. A few examples: ARV, rehab needed, FMV rent, lease option rent, option fee, amount to be applied toward purchase price, and the purchase price of the property in xxx years.
Let us know!
- Tom