How to wholesale lease option

2 Replies

Hi everyone, I got this deal that I don’t know how to arrange it. Owners have this property with tenants on a lease option. Their lease is up at the end of September and tenants could not qualify for a mortgage. They have always paid on time and want to stay there for another two years with a new lease option and hopefully qualify by then. Owners are old and want nothing to do with real estate anymore. They are willing to work whatever is necessary with me. They asked me if I wanted them to assign the lease option to me so I could buy it with the already equity tenants have in place. My intention is to wholesale this deal so I don’t know if I can have the lease option assigned to me and then I assign it to the end buyer. Or should I wait for their lease option to expire and then proceed to put it under contract with a normal purchase/sale agreement. Any help is greatly appreciated and hopefully I can return the favor back in the future!

You dont want to take posession of the property. Put it under contract and then find a buyer and then assign the deal back. Or just go find a buyer and ask for a finders fee.