Posted by Clair-MO on September 14, 2003 at 11:17:15:
Trent, I have been doing lease options for nearly 9 years when you get ready to cash out you will need to have personal checks from the tenant buyers to make it meaningful to the lenders. The last year have your tenant-buyers pay you by personal check and hope to God the checks won’t bounce like a rubber ball back to you! You only need 12 months worth of personal checks from my understanding so the lender will loan the money to a tenant-buyer to cash you out. Hope this is helpful to you.