All Forum Posts by: Lesley Resnick

@Lesley Resnick sounds like a sandwich lease option. They will ask for a 2-3 year option on a price set now. They will give you a low option amount. They will then find a tenant buyer and ask for a higher amount for the option. The tenant buyer might be willing to pay more rent than market. They will set the sale price higher than their option price. I see no upside for you in this deal, other that they would guarantee rent and maintenance(which they will pawn off to the tenant buyer).

@Lesley Resnick This is not a scan. I haven't used this method but a mentor taught me about it. Like mentioned before this is a good way for a person with bad credit to be able to purchase a house. Let's use me as an example I offer to buy your property on a lease option to buy. I get a tenant in there and he pays a deposit towards the deposit of purchasing the house in the future which will be in the terms of the option, let's say three to five years. If the tenant chooses not to purchase the house I keep the deposit and can get a new tenant in the house. You have a long-term tenant in the house now who is responsible for maintenance up to a certain dollar amount that you have set in the contract. This tenant pays rent above the normal rent and the extra money is going towards his down payment on purchasing the house in the future, set in the contract. Once the terms are up, the tenant can purchase the house at the set price agreed to in the contract. Typically if you are going to use this method you would take your current sale price and increase it by certain percentage each year and come up with a new dollar amount assuming that the property would increase in value and be worth more. This is an excellent way for a person to take control of a house they do not own and be able to rent it or sell it to someone else. The person taking control of the property would also typically file a right to record notice of interest with the county. The person who is trying to do the lease option to buy from you is also creating cash flow without ever having owned the property themselves. Another way to look at it is it is a contract to take control of the property without them having to put a down payment and closing costs to purchase it themselves. They are going to get someone else who is going to purchase it in the future but in the meantime there will be a tenant and the property will cash flow, they get a deposit that is non refundable if the tenant does not purchase, and they didn't have to but they house themselves.

Sounds like someone is trying to do AirBnB arbitrage.

 Completely true, which is why I mentioned bread and circuses. Unemployment is DEVASTATING to men, and that 18-35 year old segment are the "fighting age" men that could cause said revolution.

Given our history (this country was founded on a revolution) and our 2nd Amendment, I think that without a job to keep them fed this surely a likely outcome without UBI or some other sort of measure to keep them pacified. 

I think it's highly unlikely that Andrew Yang will be elected, or that we'll see a UBI program within the next decade. By 20-30 years from now when my son is my age the loss of jobs will be so overwhelming some sort of solution must be enacted, and it will probably be too late.