Lease option question.... - Posted by jturner


#1

Posted by Brad Crouch on October 28, 1998 at 14:00:04:

JTurner,

The rents are yours.

Brad


#2

Lease option question… - Posted by jturner

Posted by jturner on October 27, 1998 at 20:07:37:

This question may be way out there but I was just curious.
When you purchase a house with a lease option you can then sublease(rent) it out to someone else for more or less than what you are paying. Is it possible to do this with multi-unit buildings (8 units or more) if you were to live in one of the apartments and and rented out the rest. Could you collect the rents or would the seller of the apartment building collect the rents since he holds legal title to the property.

Thanks for any advice
Jason T.


#3

Re: Lease option question… - Posted by Bronchick

Posted by Bronchick on October 28, 1998 at 10:03:25:

Not a silly question at all, in fact, it is done quite often. I cover this issue in my “Lease/Options Workshop.” You can master lease an undervalued property with an option to purchase, improve the property, jack up the rents, then sell it for property by simultaneously exercising your option (or exercise your option and buy it yourself).


#4

Re: Lease option question… - Posted by jturner

Posted by jturner on October 28, 1998 at 11:13:53:

Thanks for the advice, but could I collect the rents from the tenants since I have an option to buy or would the titleholder still collect the rents…


#5

Re: Lease option question… - Posted by Bronchick

Posted by Bronchick on October 30, 1998 at 09:46:19:

No, you collect the rents