Controlling a property with Lease Option - Posted by Travis Anderson

Real Estate Investing
1

Posted by BTI on July 22, 2006 at 13:08:02:

Travis

Just remember you don’t have the right to sell the property, you just have the right to buy the property and to sell your lease-option.

BTI

2

Controlling a property with Lease Option - Posted by Travis Anderson

Posted by Travis Anderson on July 19, 2006 at 14:11:50:

Hi,

If I tie up a property with a 1 year lease option, with $385k owed on property, for selling price of $435k.

At that point I know that I can lease option to someone else, or the way it’s set up I can assign my lease option contract so someone else can step into the deal.

If I want to turn around and list the property at the going market of $505k in that neighborhood, how can I collect my portion in between the $435k and $505k?

So I guess my REAL question is, if I control a property with a lease option contract, and I file a memorandum of option @ county to put a cloud over the title, at that point do I have the right to sell the property for higher?

Also, without a real estate license…?

Thanks.

Travis