Posted by kris on November 04, 1998 at 16:31:26:
Actually that would be the goal of mine for starters; to aquire several pieces of property under a lease option and the flip it over to someone else and make 5,000 or 7,000 on those deals. There is one that I’m in the process of checking out. It’s a 3bdrm, 2ba, lot size is 2221sqft.,built in 1906 going for $150,000. Any suggestions are welcome as to how to approach this one. Thanks a bunch.
Kris
Lease Option: Single Family vs. Multi-Units - Posted by Kris
Posted by Kris on November 04, 1998 at 01:49:46:
I’ve been hearing so much on this website about lease optioning properties as one of the easier ways for beginning investors to get started in real estate. As a novice investor myself I am very interested in trying to do a deal like this, but my question is if it’s easyer to do it with a single family or multi-units. Theres a single familly on the market here in Los angeles for 187k, but there is a 6 unit apt bldg on the market I’m looking at as well that is fully rented. What would be an easier deal for a beginner like me.
Also, I’m very interested in L/O and fliping that property over to another seller for cash profit (something I heard from carlton sheets course as well as the article from bill bronchick. He, bill bronchick, calls it “controling without owning”) Is something like this feasable for a beginner like myself with no cash living here in southern cal?? I am really anxious to make a good deal happen by christmas. All experienced investors are welcome to answer back. Thank you so much for your time as well as your feedback.
Re: Lease Option: Single Family vs. Multi-Units - Posted by Bud Branstetter
Posted by Bud Branstetter on November 04, 1998 at 12:47:26:
You can lease option multi-units, MH’s, MH parks, strip centers or 10 story office buildings. One difference is management. SFR’s take a lot less management. Get into large multi-unit and they already have management online so you would probably just option them. Another difference is that SFR’s are fairly liquid. There are many people out there as the new tenant buyer. Those people are likely to be able to eventually qualify and cash you out. Larger properties you cut down the number of people and the financing avaiable(unless you go really big).