This is primarily known as a Lease-option deal and many gurus talk about this. If this is your first time getting into real estate, I suggest you read and get as much info as possible. I personally, go to book stores and sit there to read books on real estate. That would be a great thing to do. I personally don’t do lease options in that manner. I’d be the owner leasing to own to a tenant/buyer. It’s realistic and is being done, but it’s not really an easy way to start.
I have some questions on Mr. AD Kessler’s program, the one where he suggests that you can basically get a one year lease to own contract from the owner and then have the owner continue paying the mortgage on his home and find someone else to pay you $100-$200 over the mortage payment that your paying the owner. So that you can get a cash flow going.Once the year is up you can capitalize on the situation and buy the property from the owner and sell it to your renters the same day for a higher price than waht you bought it for.
Tell me if this is realistic and if it’s something that a college student should get started in.
Thanx
Kevin
sandwitch lease options seem to be all the rage right now in the guru sector. if you really want to pursue this avenue, be advised that the legal end is very important. tho i haven’t read his material, you might try bronchicks stuff on this web site. there are also many posts on this subject in the main forum, some showing the great difficulty some people get into using this technique. i would also look at Ron Star’s posts on begining investing.
i have read AD stuff, and got his video promo. they called a lot on the phone shortly thereafter, and tried to get me to sign up for their $5-$10k mentor program. be ware of people wanting this kind of money to hold your hand.