Posted by waynepdx on July 09, 2002 at 10:15:47:
Great job at finding a lo risk first time deal.
Yes you can do any of those strategies you described.
As long as he gives you an option for 3 months and you do not have to cover the payments, well that is great.
If you are out a couple of hundred bucks for the advertising, oh well. It is only 200 bucks. Its better than thousands.
These are the type of lease option deals that I go for.
If you do get a buyer, then factor into the price of the home the appreciation for the next year minus say 2k. This would increase the price of the home for your t/b but also give them more equity when they exercise their option to buy.
As far as finding someone to buy and then carrying a note. Well it would be monthly cash to you that you get for nothing except the time you put into making the deal.
And if they default you can start foreclosure on the home.
You can also just find a buyer and then assign them your position for say 10k. That way you get some quick cash and are out of the deal completely.