Lease options in Ohio

[Jason Hernandez]

Hey Everyone,

  I have been reading alot lately about starting out in real estate investing. Originally I was interested in doing wholesaling, and now my interest has shifted more into lease options, both doing sandwich deals and assigning your deal to the end buyer or another investor, also known as wholesaling lease options. I wanted to see if there was anyone in Ohio who is doing this. If so how successfull is this strategy? Do you use a realator or do you market the properties  yourself with our a realtor? Any and all feedback would be great.

Thnks,

Jason Hernandez

[Bill P.]

@Jason Hernandez 

I've been doing this for a very long time as my first one was in 1981. I use sandwich L/O, sub2 and land contracts to buy property in this crazy market. My goal is to do 15 per year as I am more interested in a slow growing business than getting homes that unravel if things go wrong. In other words, I make sure there is a positive spread for me in at least 2 of the 3 areas (front end, monthly or back end). Have taken a slower than normal process this year as my efforts have gone into obtaining multiple income sources outside of real estate. In my case, I never use a real estate agent as I have a personal preference to find deals myself. I have used birddogs in 2010 - 2013 with mixed results. I have traditionally focused on major markets in 13 states that border I-75 but I have shrunk my market to Cincinnati, Columbus and Dayton beginning in 2014. Basic reason is that having L/O in other markets over extended my management control and I got my *SS kicked in the Orlando market during 2008-2011 that taught me that I am a mortal. LOL. Anyway, I hope this information helps.