Lease option for landlord and put tenant in it

3 Replies

I have a local real estate agent that is able to put people in lease options. There is no money down with a 5 yr term to buy.

What is the up or down of getting into one of these lease options and then put a tenant in it?

In my mind, this is a property that i can lock in at today's price, but not have any money into it. If after 5 yrs, if the house does not have the equity or perform as desired, I can walk away from it, but could allow me to cash flow over the next 5 yrs.

thoughs good or bad?

Aaron T., Elite Developers of Tampa Bay

hey! I'm flying to Tampa now for a mastermind!

I'm not sure I full understand... Are u saying you can control a property on a leas option for nothing down then lease it out etc?

So who owns these houses that will take nothing down from strangers... I must be missing something.. Then again.. I'm reading this on my phone at an airport

John,

yes, that pretty much sums it up. I am going to talk to the realtor later today to get any additional specifics.

my understanding is i can get into the lease option for 0 money down and hold the property up to 5 years with a lease option. if that is the case, i want to know if there is anything legally that keeps me from putting a tenant in there and cash flowing for those 5 yrs.

Aaron T., Elite Developers of Tampa Bay

I found out the property needs to be the primary residence.

Aaron T., Elite Developers of Tampa Bay

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you