Lease Option

Learn How Make Money Using The Lease Option

The main reason few people get involved with real estate options is because most real estate agents avoid options because they do not know how to get paid. If you will learn how to use options you can write your own paycheck

The lease option is one of the best ways of controlling real estate with very little money up front.

The secret to making money with option investing or straight real estate options is finding "Anxious Sellers" that are willing to accept option terms on their real estate without a Realtor being involved in the transaction. Go to Find Savvy Realtors.

Realtors are your biggest deal killers when it comes to lease options.

As you may know real estate agents work on commission and their main goal in life is to earn a commission, so if you are going to work with agents find a good Buyers/Agent.

Because Realtors don’t know how to get paid on real estate options. Anyone that knows how to use options has an advantage.

When your doing option investing is like buying real estate with Zero Down. If you were to ask 10 Realtors about doing a Zero Down Deal 9 of them would tell you it can’t be done.

Most Realtors only know how to do real estate deals that have a new mortgage involved. The purchase mortgage puts cash into the transaction and the Realtor can get paid.

Now that is out of the way... How Do You Find Property That Fits The Option Scenario?

• Look for property that has been on the market for six months or more.

• Search for unhappy landlords with tenant problems.

• Advertise for homes to rent and ask for a option to purchase.

• Call on property owners that are offering their property for sale.

All of the above will produce some good option leads. But before you charge ahead make sure you have a good working knowledge of real estate values in your area.

Another thing you will need is some option agreements that are worded to protect you yet be general in nature so you can negotiate your option.

The option agreements that I have developed are very one sided. The option agreements favor me and give me some serious leverage. It is also tough on Tenant/Buyer if they forget to pay their rent as agreed.

Something else that is very important. Having some cash reserves. Even if you get into a "Zero Down" option you may need some money to repair the property or if you have to evict your tenant there are monthly mortgage payments that must be paid.

For additional Option information go to the following links:

Real Estate Option Contract

Real Estate Option

This Is Very Important: Some times sellers get very upset when they see you are making $30,000 on a option that you paid $2,500 for.

So it is very important that you either record your option or have an escrow account that is holding the deed in the event the seller wants to back out of the deal.

Now You can force the deal, but going to court takes time. maybe years and it costs money. So the smart thing is to have your "Lease/Option" lock up the seller and do not leave any wiggle room for the seller.

When The Seller Discovers How Much Profit You Are Making, They May Try To Find a Way Out Of The Deal.

On the other hand you want to have the ability to walk away if things do not work out for you.

This is why you may want to invest in a good set of option paper work that covers all the things that can go wrong.

Sooner or later something will go wrong and you need to know what to do when problems present themselves. Good lease option paper work is available from several vendors.

When your selling lease option real estate it's very easy to find buyers because there are all kinds of people that have credit issues and do not have enough cash for a down payment.

If they have the income and a decent lease option deposit ($5,000 to $10,000) minimum you can make a deal.

Many times it’s possible to use Hard Money loans to work out purchase agreements if you find your self short of cash.

I always recommend that anyone that is going to play around in real estate find themselves a good direct hard money lenders and get pre-approved just in case.

Study this real estate site because a lease option can make you a ton of money but you may need some training and there is lots on this site.

LEASE OPTIONS: If you have any legal exposure and dislike the though of hiring an attorney, but want to explore your legal options, review this web page and watch the videos on Jurisdictionary is the way to go if you have a pending lawsuit. Watch the FREE Instructional Videos. Left Side Half Way Down...

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