Questions about lease options here in the Atlanta GA market

You might try expired listings in the MLS. At least then you know there was enough equity for a realtor to want to list the house and be able to get their commission. I was down at the recorder's office doing some research the other day and there was another guy looking thru the records. I don't know what he was looking for, but after about 20 minutes he slammed down his pen and said "Doesn't anybody have any equity anymore?"

But you know he is probably right. I've noticed that the equity margin is so slim (if at all) in so many parts of the country. Atlanta use to be a great town but the suburbs have been decimated.

To OPRICE1: You just have to keep looking. For example, there are plenty of L/O on Caigslist by investors that found great deals, that you know that they are out there. Maybe drive around the area you want to focus on and call FSBOs. Just keep turning up rocks.

I've attempted to work with lease options and have come up unsuccessful so far, but I've been pretty close. What I've found is that homes up "For Rent" are your best bet when it comes to lease options. Most people who are trying to sell their houses want the house gone and need to cash out right away to buy there next house or for whatever Reason. Because of this I've found the "For Rent" properties to be much more flexible and willing to consider terms like a lease option.

Go through old Newspapers and Little Nickels/Thrifty Nickels and find the "For Rent" ads. Call them up and see if any of them are still available. If so, I imagine that landlord will be pretty flexible when it comes to his terms

Good Luck

Jordan

First allow me to thank everyone for their responses, each one was insightful and contributed a unique piece of useful information. To summarize this is what was stated:
1) View expired MLS listing. ( This I am setting up now, I have contacted 2 realtors and 1 broker who have set me up to receive updates by email for the FMLS. I asked for properties that have expired and are held by owners. I asked for REO's and foreclosures to be excluded from the updates.)
2)Drive around and in search of FSBO. (This I will do this weekend.)
3)To go threw the for rent ads and search for owners who are tired of being land lords or who need cash fast. (This will be something that I do for the remainder of the week.)

drplunk05 I would like to ask you what steps are you taking to bring these type of properties to you? Are you running bandit signs, flies, business cards? Do you have the 800 number in place to automate and screen your leads? And did you set up the free website? I ask because I seek to get a deeper understanding of why these deals aren't there for you. Is it just because there aren't many deals to be had or is it because your not doing all that you can to bring them to you? I believe that a clear view of the strategy that your implementing will give me a good understanding of what I should be doing. Thanks Again Everyone

Hello I see you're working in the Atlanta area and I'm guessing you are from Atlanta correct? If so I was wanting to know how long you've been in real estate and if you have perhaps done any RE work further south such as around the Macon area? Any information on what you know would be greatly appreciated!

i am new to all this im sure that somebody out there might be able to answer this question on a lease to purchase option can a property management lease this property and have it leased to the housing authority collecting the rent and putting some of it toward the purchasing that will take place at a later date and if so how does this all play out i am in california and don't know all the facts please respond in anyway if you got knowledge on this subject thank you the boxer.

Look into probates/Estates, in most cases there is equity since the original owners were older & usually paid alot less for the property. Look for heirs that do not live in the area of the property, in most cases they don't want to be bothered with the extra expense & hassle of taking care of the property.

Ok, how do I go about locating Probates and Estates that meet our criteria?

www.deangraziosi.com/yourtown/probate

This actually explains it all..