Found a property! Lease to Own

[Vanessa Bautista]

Hey Guys,

Found a pretty decent size home for lease to own option. I’m a first timer on this. Any thoughts on lease to own? Strategies etc? Home going for 290k. Homes in the area are going for 320K. I think there might be a deal to be made. House needs some work, but I don’t have a quote on the work needed yet.

[Joe Villeneuve]

First, NEVER go into a LO deal with a property that "needs work", unless the seller is going to pay for it.

Second, what are you plans for this property once you get control of it.

Third, what are the terms of the Lease contract, and...

Last, what are the terms of the Option Contract?