Posted by JoeKaiser on July 19, 2002 at 20:05:33:
Forget about a formula. It’s more about the people than it is about the math.
You need to figure out your gameplan and determine “the play,” your best course of action. I may not make sense at all to sell on lease options in your area, although from the sound of things, buying on a lease option looks like a bargain.
So, if you “bought” on a lease option and knew what you were doing, you could turn around and “sell” that property on an owner contract type arrangement and create a spread large enough to drive a Brinks truck through.
There will be things you’ll need to have figured out to pull that off, but it’s an alternative you should at lease consider.