Friday, March 12, 2010

That’s when it hit me: “Why not wholesale lease options”?!

That’s when it hit me: “Why not wholesale lease options”?!

Let’s look at some facts…

1) There are TONS of sellers out there who can’t sell their home. They either have very little equity or they aren’t willing to discount their home to 70% of ARV to compete with the banks.

2) There are TONS of buyers out there who can’t buy a house.
So I thought to myself, why not stop throwing away all those leads and do something with them? Why can’t I put “Lease Options” and “Wholesaling” together and make the same money with them as I was making with regular wholesaling?!
The Quick and Dirty of Wholesaling Lease Options…
Here are the basic steps:

1) Find a motivated seller who wants to sell their house on a Lease Option…
2) Get the property under an “Option To Lease Option” contract…
3) Find a qualified tenant-buyer who has a good down payment and a good chance to get a mortgage in 6-12 months…
4) Sign the Lease Option paperwork with the Tenant-Buyer…
5) Assign the Lease Option docs back to the seller…
6) Keep the Option Consideration / Deposit and give the Seller the first month’s rent…
7) Put the Tenant-Buyer in a credit repair program with your mortgage broker…
8 ) Deposit your money & move on to the deal!
Real simple… really! That’s why I love this business so much. Almost anyone can easily do 1-2 of these deals a month.
Imagine what you could do with an extra $3,000 – $10,000 in “Hip Pocket National Bank” every month! And if I can do it – anyone can!!!

- Manuel “The Mentor” B.
Ontario, CA
I Mentor and Consult people that don't have the money for an agent's commisions.
call or e-mail and ask how? 909-319-0332 or mbhomessolutions@gmail.com

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