How often do wholesalers/investors/flippers use lease options to get the deal done? I've read that in some cases (low equity) it makes sense to get the deal done but I havent' seen it done personally. In what instances would purchasing with a lease option be a good decision? Then, how would one go about putting a deal with a lease option together?
My guess is that not many investors use lease options. If they do, it's probably not done correctly. There are a lot of details to make it work properly. It's a good thing to use if there is little to no equity etc.
How to put it together is something that can't be answered in a few sentences or paragraphs.
However, if you search you will find the info that you need.
@Roland Paicely thanks for the input.
I get that they are not done to often but I'm finding that most of the Nod's and Les Pendens have little to no equity and in typical, or optimum, circumstances there is no solution for these home owners except for the bank to foreclose. Also from the investor's standpoint I think it leaves a lot of opportunity on the table. As the market becomes more competitive I believe it will become necessary for us all to work on these less than perfect cases or get out of what we are doing.
I'm gonna find a way to make it work for sure.
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