confused with lease options - Posted by michael

Posted by Bud Branstetter on December 27, 2000 at 23:57:26:

Bill Bronchick has some free example contracts at his web site. One contract is used to lease and give you a option. A separate contract is used to give the TB and option. A lease agreement is used for the sub lease.

Many times you will have to come up with the option money and/or payments before you get your TB. Other times you can structure where you wait until you find the TB before you come up with the money. Much of it depends on the motivation of the owner and/or your negotiating abilities. The idea is also to get more option money than you have to put up.

After you learn how to do L/O’s learn the advantages of buying subject to or using the Pactrust.

Please disregard the garbage post below.

confused with lease options - Posted by michael

Posted by michael on December 27, 2000 at 20:59:05:

I don’t have much money and I feel that L/O’s are the best way for someone like myself to start in real estate.

My queston is this…Once I find a motivated seller to do a lease option with me say for 2K dollars option
consideration, how do I sub-lease a contract to a T/B for more option money, collect that money and pay my original option consideration of 2K to the seller without going into my own pocket for the money.

What I’m trying to say is how do I close a second contract with my T/B and collect option money without having paid the option money I owe to the seller first.

Any help would be appreciated, Mike