Use Lease Options to Control Properties, Or Sit On The Side Lines!
The last few weeks has everyone wondering whether real estate investing is DEAD! REIA club attendance is down, real estate agents are waiting tables or working at Wal-Mart, mortgage companies are closing faster then the drop in value of the US dollar and mortgages are almost non existing ( being reserved for those with 20% down and FICO scores of 720 or higher). So what is the simple answer? Here is my take as an investor with 22 plus years of experience…
Yes, times are uncertain and who knows what tomorrow will bring, however, I believe that there is a tremendous opportunity available to the real estate investor to bring in a steady income with little or no risk! What is it? Lease Options!
I know, most of you, my faithful readers have heard me over the years advocating lease options as a way to be a leveraged investor in an up, down or side ways market. Frankly, when the housing market was booming most people didn’t pay attention to lease options, but now that our great politicians on both sides of the coin have gotten us into this bailout mess, my phone has been ringing off the hook with people wanting to know how they can cash in with lease options – here’s why…
- Control without ownership
- If the deal doesn’t work out the way you thought it would, you can get out of the transaction without any financial harm – “the ultimate escape clause”!
- You make non-refundable money at the beginning of the deal, middle of the deal, and at the end of the deal!
- Make 10% - 15% above FMV because you are giving people terms.
- Use lease options on single family homes, multi-families, land, mobile homes, foreclosures, probates, new construction and pre-construction…
These are just a few reasons that why you should take a serious look at lease options and the many benefits they provide to you as a real estate investor. Please visit my site http://www.JGage.com for lease option articles, strategies and resources. Of course you could always sit on the side lines and do nothing.