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Updated over 4 years ago on . Most recent reply

Vanessa Bautista's profile image
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Vanessa Bautista
  • Rental Property Investor
  • from Memphis, TN
  • Member since Feb 16, 2019
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Vanessa Bautista's profile image
Vanessa Bautista's profile image
Vanessa Bautista
  • Rental Property Investor
  • from Memphis, TN
  • Member since Feb 16, 2019
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Vanessa Bautista
  • Rental Property Investor
  • Memphis, TN
10
Votes |
11
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General Real Estate Investing

Found a property! Lease to Own

Vanessa Bautista
  • Rental Property Investor
  • Memphis, TN
Posted

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.

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Joe Villeneuve
  • #5 All Forums Contributor
  • from Plymouth, MI
  • Member since Jul 7, 2013
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Joe Villeneuve
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Joe Villeneuve
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  • Plymouth, MI
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Joe Villeneuve
#5 All Forums Contributor
  • Plymouth, MI
Replied

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?

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