***WHOLESALING LEASE OPTIONS****
2 Replies
Victor Maxey
from Richmond, Virginia
posted over 3 years ago
HOW MUCG OF A DOWN PAYMENT SHOULD I OFFER A SELLER ON THE PROPERTY FOR L/O AND WHEN WOULD I HAVE TO PROVIDE THAT TO THEM. WHAT IS THE QUICKEST WAY TO FIND A TENANT BUYER AND HOW LONG DO I HAVE AFTER GETTING THE AGREEMENT SIGNED WITH THE SELLER TO FIND A TB FOR THE PROPERTY. DO THESE DEALS GO QUICKLY OR WILL I HAVE A TIME FINDING SOMEONE WITH THE MONEY TO PAY THE DOWNPAYMENT FOR MY SELLER AND FOR ME TO GET MY FEE? ANY ADVICE WILL HELP. BEEN STUDYING BUT THESES FEW QUESTIONS HAVE ME STUCK A LITTLE. THANKS IN ADVANCE.
Marvin McTaw
Rental Property Investor from Atlanta, GA
replied about 3 years ago
@Victor Maxey there's a bunch of parts to your question. The simple answer to everything you've asked though is that "it depends".
Steve Vaughan
Rental Property Investor from East Wenatchee, WA
replied about 3 years ago
Gotta do some diggin. The term 'down payment' doesn't belong anywhere near a lease with option to buy. Remove that from your vocabulary or perish in a disguised sale lawsuit.