bj_gibbons

Hi Michael C and Group: Lease Purchase is a great business! A Point about Option To Purchase: Does it give the Tenant EQUITABLE INTEREST? If the TBer gets a lawyer and it goes to court, will the Judge say the Tenant has an EQUITABLE INTEREST in the home? I mentor a few people every year (Hi Michael C, Brian here in NZ via Boston, MA) in Lease Purchase along with my own investing and development, and I found a very interesting idea from Mark Warda, JD of Florida. Mark Warda JD does a CONTRACT FOR OPTION TO PURCHASE much like a Contract for Deed or Agreement for Deed. And a Strong Lease. They (TBers) do not get EQUITABLE INTEREST til they complete the terms of the Contract for Option to Purchase (CFO). For less than $40. he sells a book on the subject. Michael C., with your permission, I'll place his link for his book in another email to this board. All the best to all at naked-investor, Brian Gibbons

The big question: How do you assist the tenant buyer get financing? Say $100k value today Say add on $3k LP Consultant fee and $6k rent credit = $109 Sales Price Buy during months 01-12 for $109k Buy during months 13-24 for $115k Buy during months 25-36 for $121k Buy during months 37-48 for $127k Buy during months 49-60 for $133k TBuyers give 2 checks: Monthly rent check $1000 Extra Option check $400 60 x $400 = $24,000 Say TB buy at month 60 Property appraises for $133k $133 - $3k - $6k - $24K = $100 100 div by 133 = 75% LTV Sale & Purchase Agreement sales price $133 Side agreement 2nd mortgage from owner for $33k Seller FORGIVES 2nd mortgage Do you have an agreement for the TB & Seller re: forgiving the 2nd? I sincerely appreciate it!! Thanks Brian brian@falnz.com