Question for Lease Option gurus - Posted by David MacGown

Posted by Jim IL on December 30, 1999 at 16:01:03:

I am not a “guru” by any means, but most of my deals have been L/O’s.
What market works best?
Hmmm…don’t know yours, so cannot say. they seem to work best for me when the seller wants out NOW!
My market is a buyers market lately, but seems to be truning away from that a bit, probably due to the season. (it is COLD here now, and slightly snowy…YUCK!)
And the price range that I’ve personally had the best luck in is the “Average” price range in the area.
The smaller less expensive homes are not good, because most people these days seem to want more house, and in a better area.
The large expensive homes have greater profit, but there are less buyers.
And, the average homes, (in my area, thats $100k-$140k) seem to go well. These are homes that are typically 3 bedrooms, 1-2 baths, and a garage, and a basement. They are middle of the road homes in nice neighborhoods, with good schools.

constructions loans?
Have no clue, never done anything with them.

Hope that helps a little bit,
Jim IL

Question for Lease Option gurus - Posted by David MacGown

Posted by David MacGown on December 30, 1999 at 13:47:43:

Which markets do lease options work best in?/least in?
And what price range within a market works best?
Also, is a construction loan a loan that a builder takes out for borrowing for new construction projects? or is that something entirely different.

Thanks a million!