Best way to create lease options? - Posted by David MacGown

Posted by NO MONEY, OR CREDIT NEEDED on December 11, 1999 at 13:22:29:

yes it’s legal.

Would you want to do it? Probably not. If it’s an investor, he’s probably taking all the possible profit.
Call him, ask him if he’s the owner. If he says yes, make sure he is (check it out at the clerks office). But most of all, make sure that the comps. are right.
If it’s a private dude, go sign a deal with him with a clause subject to showing the home to one of your many families (bluff if you don’t already have one.)
Sign the deal, then go advertise for a L/O family.

No money or Credit needed.

Best way to create lease options? - Posted by David MacGown

Posted by David MacGown on December 11, 1999 at 13:11:12:

I have heard mixed opinions on this, so I was wondering which way works best?

Look for the seller first or look for the buyer first?

I don’t want to put my horse before the carriage ( or whatever that saying is)

I have found 3 houses advertised as rent to own in the paper in the houses for rent section.

I have a few questions:

  1. Which is a better way of putting together a deal calling them or mailing a direct respose type of marketing letter and counting on them calling because they are already sold on the idea?

  2. How do I know if the seller is not a distressed landlord which I am looking for but another investor that works with l/o’s who is looking for a tenant to complete their sandwich lease option? This is a concern of mine because of this: If you compared a sandwich lease option to a Bologna sandwich, then if an invester buys from a landlord and another investor buys from that invester and in turn a tenant/buyer buys from that invester… Isn’t that like a Dagwood sandwich? Can you legally do that? Is that done often?