allandinger

There is a seller with a property that needs a little rehabbing done to it, the current tenants are moving out. They said they would sell and the price is decent but they can't sell until april because there kid would not get her college sholarship because there income would be to high. Would it be alright to get a lease option on the property for a couple years, borrow the money to rehab,fix it and then sell it for retail after april and do a simuletanious close to cash her out. So the only money I have in it is the rehab money but since I don't own it is this safe? All suggestions are welcome. The roof also needs some work done before december or the insurance company won't renew the policy.

Great post guys, lots of good ideas

These are all great tips guys, they really help alot of people out.

Good Job keep up the good work and you will get your deals. If the deals are good the investors will come. Are you flipping to rehabbers? They usually want the worst house out there.

What do you do if you have a landlord who wants to give you a lease with option to buy but there is already a lease on the property? Are they able to do this? Do I have to wait until thier lease is up? If the tenants in there now are interested in purhcasing and I want to sublease it to them with option to purchase do I just have them do a new lease? How do we get rid of the other lease? If the tenants do not want to purhcase how do I go about that? Ok enough questions already. Any help is appreciated

that is a great idea to use for marketing, I will have to give it a try.

nice site, it is looking good. Best of luck!

Hello everyone, Could you please give me some advice on this? Have a property where owner does not want to be a landlord. Nice neighborhood, 3b, 2b, garage, needs some updating. Owner will do 2 year l/o , 500 o/p and 28k purchase, payment around $320 month. They owe 6000k on loan, tax value 36k, current market value around 40k, I think about 8k of work with an ARV of 60k. There are current tennents already in property that I spoke to that do want to perchase. Should I l/o to them for 1year, 1000 option payment, 37k purchase, 360 month and do no work. Or should I do the l/o get rid of tenent do all the work and try to sell for retail on l/o for a 1year. Any help is very welcome.

Hello I would say the average is 3k to 5k or more depending on how much profit is in the deal. Hope that helps a little.