Re: lease options - Posted by Jim Kennedy
Posted by Jim Kennedy on April 09, 1999 at 23:15:50:
Let me make sure I understand why you are frustrated. Is it because, after having read the Washington Times article, you now believe that you did not make a wise decision when you chose to pursue lease/options? If that is the case, you are going to have a VERY difficult time as a real estate investor.
You will remain in a state of constant frustration if your focus can be diverted every time you encounter a different point of view. Read the posts on this news group for a couple of days and you will find that it is not the least bit uncommon for experienced real estate investors to advocate widely differing points of view about many of the topics discussed here. I have learned quite a lot by reading the debates that occasionally arise over a particular topic. What I do is read the different opinions, evaluate the value of what I read, conduct additional research on my own if I deem it necessary, and then arrive at an informed conclusion based on as much information as possible.
As for the Washington Times article, keep in mind that the author is writing to an audience composed primarily of owner occupant buyers, NOT real estate investors. The author presents some valid points but none that would deter me from utilizing lease/options as a viable strategy. In fact, some of the reasons that the author cites as justification to recommend against the use of a lease/option for an owner occupant, are precisely the reasons that the lease/option works to my benefit as an investor.
You indicated that you have done the necessary research through books and courses. GOOD!! Keep reading and learning everything you can about your chosen field. In addition to the “how to” articles, this site also offers some excellent home study materials. Personally, I think you made a very prudent decision to start with lease/options. Your thought process seemed extremely logical. (Let me suggest that you also consider wholesaling fix-r-uppers to rehabbers as another vehicle for a new investor with less than perfect credit.)
I hope this helps reinforce your decision to use lease/options for your real estate investing.
Visit this site often for Knowledge and Motivation.
Best of Success!!