Posted by LeonNC on June 04, 2000 at 12:36:55:
Alex,
The best thing you can do is figure out what which technique best fits YOUR objectives. There are a lot of differnces between the two techniques you are talking about. If you want to flip properties on a regular basis then you should do some research and see where the rehabbers in your town are working. Find out who they are, what they’re looking for, and how to evaluate potential properties for flipping.
If you’re interested in lease options you need to do even more homework in my opinion. You should have a clear understanding of how the entire transaction should go and what can go wrong. You have to have a lot of paperwork in place. I would not just go and wing it on a lease option.
More importantly, do your homework. You said you need help fast. Real estate investing takes time to learn but is well worth it. Do your homework, stick with it, and then take all that energy and put it to use. There are plenty of good people on this site who will teach you and some great courses to choose from.
Best of luck
LeonNC