Does this make sense?? - Posted by J. Cummings
Posted by J. Cummings on November 17, 2000 at 08:12:40:
I am interested (I think) in optioning duplexes in less-desirable areas of my city to gain control, then trying to get one of the current tenants to buy on a lease with option. If they are willing to go ahead with the L/O, then I can use hard money, seller carry-back, or other short-term financing, or even sell the option to the current tenant. If they are not willing to do the L/O, my max risk is the option premium.
The duplexes are available for less than 20k, and I can find several that are currently occupied. I also know the sellers are very motivated and just want to get out.
Thanks a lot for your suggestions,