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Forums » Rent to Own a.k.a. Lease Purchase, Lease Options » Buy on LC sell on LO

Buy on LC sell on LO Subscribe to Buy on LC sell on LO

3 posts by 2 users

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Justin Scarborough

Real Estate Investor · Ohio


Forum_avatar_avatar-ohioguy

Icon_minipost Jun 24 '09, 11:26 AM

I couldn't find anything on this so I don't know if it is even possible/legal.

What I want to do Is buy a property on a Land Contract and simultaneously do a Lease Option with a marked up purchase price and of course creating cash flow up to the point the Option is executed. If its not executed would repeat the process with new tenant/buyer.

Can it be done legally?

Edited: 06/26/2010 at 08:43AM


Scott M.

Real Estate Investor · Rochester Hills, Michigan


Forum_avatar_avatar-scottmac

Icon_minipost Jun 24 '09, 11:34 AM

Yes you can. Only thing to read is your LC. The one I use has a section in it that speaks to this and as long as the rules are followed it is cool.

So read your LC.

Also - understand you are responsible to make the payments on the LC even if your LO person doesn't pay you.

Edited: 06/26/2010 at 08:44AM


Justin Scarborough

Real Estate Investor · Ohio


Forum_avatar_avatar-ohioguy

Icon_minipost Jun 24 '09, 11:54 AM

Good deal.

Thanks for quick reply

Edited: 06/26/2010 at 08:44AM


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