Straight lease deal - Posted by BOB L NY

Posted by Bob L (ny) on June 21, 2000 at 21:15:13:

No deal pending-just a question on straight options? Listening to Ron Legrands tapes he had mentioned that for a invester to be able to legally sell a house (doing a l/o) was that you need an equity interest. Now that I remember a bite more he does say that for straight options each state has a differing amount of money you are suppose to put down to make it “legal”. So I guess I answered my own question.


Straight lease deal - Posted by BOB L NY

Posted by BOB L NY on June 21, 2000 at 19:28:46:

If I have no equity stake in an option deal how can I legally sell it as an investor.

Re: Straight lease deal? Option? Clarify… - Posted by The Donald

Posted by The Donald on June 21, 2000 at 21:06:06:

I agree with JohnBoy - you seem confused. Clarity would help us help you better :slight_smile:

Re: Straight lease deal - Posted by JohnBoy

Posted by JohnBoy on June 21, 2000 at 20:03:10:

Your title of this post says “straight lease deal” and in the post you refer to an “option deal”. Which is it?

Do you only have a lease with NO option?

Do you have an OPTION to buy this?

Do you have a lease with an option to buy?

How long is the lease? What is the rent? What is your option price if you have an option?

What do similar homes like this rent for in the area?

What have they sold for in the past 6 months in the area? Actual sales, not asking prices.

Are you living in the property or have someone else living in the property?

A little more detail here would help.