How can I hold a note for balance of lease option fee?
Hey everyone,
Can I hold a note for the balance of a lease option fee? And how would I go about doing it?
For example: I have a seller that is willing to lease option their property, I find the lease option buyer and assign the lease option for a fee. Let's say I'm aiming to get $4000. I like a particular buyer but they can only give me $2000. Can I (and how do I) write/hold a note for the balance? Structure it so there is a minimal monthly payment of $50 for example over x amount of time.... I'd like to be able to do a few of those for a couple hundred a month in cash flow..... Is it possible? What are some thoughts? Thanks!