The "Double Dippers" Are a Great Way to Get Started
The โ๐๐จ๐ฎ๐๐ฅ๐ ๐๐ข๐ฉ๐ฉ๐๐ซ๐ฌโ are telling us something about the housing market and they have become my new favorite real estate sector.
These are homeowners who are trying to sell their house AND rent that same house at the same time.
Not surprisingly, Florida, Texas and Nevada are leading the nation in something that should get every creative real estate investorโs attention.
They're โDouble Dippers.โ Why?
Because these sellers are running out of options.
They bought or own a house expecting to sell it.
The house sits, unsold, unloved.
The Open House attracted hungry passers by, drawn in by the scent of freshly baked cookies. No offers.
The price gets reduced. . .again. Crickets
Eventually, the homeowner reaches the point where they say:
โ!@#$%&*! We can't carry this payment another month. We have to rent it."
Another ๐๐๐ฅ๐ฎ๐๐ญ๐๐ง๐ญ/๐๐๐๐ข๐๐๐ง๐ญ๐๐ฅ ๐๐๐ง๐๐ฅ๐จ๐ซ๐ is born.
And that's where things get interesting.
Because these homeowners never planned on renting and becoming a landlord.
They're Accidental Landlords. Or, perhaps more accurately, Reluctant Landlords.
They still want to sell. But they haven't found a buyer willing or able to pay their price.
That's why I pay so much attention to the ๐๐๐๐ฌ๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐๐ฏ๐๐ง๐ญ๐๐ ๐, and you should, too.
Instead of looking at that property as: SELL vs. RENT
look at it as: SELL + RENT + FUTURE PURCHASE.
A properly structured lease option can give the homeowner:
โขTenant/Buyer rather than a tenant
โขRental income
โข A potential buyer already in the property
โข An opportunity to sell at an agreed-upon price
โข No real estate commission
And for you, the investor, this creates a very different kind of opportunity.
No risk, no cash out of pocket
You're not qualifying for a mortgage
You're not buying the house
You're not making payments
Instead, you can control the property without owning it, structure a lease-purchase arrangement with the seller, and then assign the deal to a qualified tenant/buyer who wants the opportunity to purchase it.
That's the essence of a ๐๐จ๐จ๐ฉ๐๐ซ๐๐ญ๐ข๐ฏ๐ ๐๐ฌ๐ฌ๐ข๐ ๐ง๐ฆ๐๐ง๐ญ.
The seller gets a solution to a problem.
The tenant/buyer gets a path to homeownership.
And you get the opportunity to create a profit without taking on the traditional risks and capital requirements of buying and rehabbing a property.
That's what makes the โDouble Dippersโ so interesting.
They're not just homeowners who are simultaneously selling and renting.
They're motivated sellers advertising their motivation for you to see.
For a creative investor, that's a hot lead.
If you're a new or aspiring investor, this is the kind of opportunity you should be looking for right now.
Don't just look for houses. Look for problems. The Double Dippers are advertising theirs.
Found one? DM me and I'll walk you through the deal from start to close.
