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Location: Lease Options Explained
Discussion: Lease Options
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InvestinLife |
Lease Options
Jun 16 2006, 8:15 PM EDT
I've also had luck with lease options. However I often find myself torn between the role of being a landlord (looking for the highest possible profit) and helping these people out. I've found that without some prodding from me, my lease option tenants will not do the things they need to do in order to be able to purchase the home. This is great for me as the owner, because I get to keep the appreciation. However I can't help but feel a little bit like I'm taking advantage of these people by not helping prod them in the right direction.
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Luv2invest |
1. RE: Lease Options
Jun 19 2006, 5:21 PM EDT
I don't feel bad for my option tenants. I'm currently in the process of selling 2 houses now to tenants who purchased an option from me to buy the property. One of the homes the tenant is walking in with $30K in equity and in the other one the tenant is getting equity in the home of over $100K. The second tenant has made some improvements to the property which helped increase the equity number a bit, but needless to say I don't feel bad for them one bit. I've had tenants before who have not exercised, but I really don't feel sorry for them either. I always offer guidance and help to my tenants on what they need to do to be able to qualify for a loan in 1-2 years. If they take that advice and apply it or not is an entirely different matter though. Maybe if they actually tried to turn things around and still were not able to qualify I would feel differently, but to this point that has never happened. All my tenants who have put forth the effort have been rewarded, and those who didn't lost out, seems pretty fair to me.
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Posted Anonymously |
2. RE: Lease Options
Feb 6 2009, 10:29 AM EST
But.. What if it takes several months to use sub-lease option to another party. I would need to pay the rent in the meanwhile. With these touch economic times, the value is not climbing resulting in a possible loss or value remaining the same.I appreciate and like the strategy. Just looking for a few tips on minimizing the comments I am posting here. Any feedback? Do you find this valuable? |
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ernestb |
3. RE: Lease Options
Jan 11 2010, 6:10 AM EST
hi ya, could someone explain the process involved in lease options. from find properties to leasing it out. are solicitors involved. am based in london so know laws might dffer. Really want to make a difference in 2010, so any advice would go a long way. thanks
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