Real Estate Investor · Raleigh, NC · Member since 2012 · 427 posts · 297 votes
Hi,
I have been thinking about different ways to get some rental properties for a few months. I was thinking a good way, before the market really rises, is get some Subject To or under a lease option, with the option hopefully at 5 years, and then renting them out for more than the payment.
I know Karen Rittenhouse started this way, with Subject To's, from her Podcast, which I swear I listened to 5 times at least. It is inspiring and even more so that she lives 2 hours down I-40 from me (I am in Raleigh, NC).
Is this still a doable strategy in this rising market? In Raleigh houses are going fast and prices are rising.
There seems to be a lot of Lease Options and Wholesaling Lease Options posts, but what about using them to build a buy and hold strategy? And Subject To's? I am hoping to get two or three properties this way to start my land lording career and continuing to grow as I learn how best to manage tenants and workloads.
I bought a Wendy Patton book about these as well, which I am about to read again (I read it a few months ago).
Brian Gibbons thanks for the kudos! Your check is in the mail!
Karen Rittenhouse The real estate commission takes about a year per investigation, but isn't it nice when they find no fault and also the verification that you know what you are doing?
John Jackson Yes, and let's hope they don't feel like doing that again. The Attorney General never closes a case, they simply disappear. That way, they can come back at anytime.... Ugh.
Karen Rittenhouse Never had the AG issue, but had the TREC issue twice.
Didn't know the AG doesn't close a case.
I'd actually like to hear more on that, not on this forum of course.
I see a great deal of knowledge in what you've done and gone thru though!
In my case I was trying to Franchise LTB and someone did exactly what I told them NOT to do.
After that, I revisited my franchise idea.