What is this called?

[Account Closed]

Hey everyone, im new to these forums but i have been doing research on real estate investing for a while now.

I have a friend that what he does is he pretty much acts as a real estate investor but he does not have a license, he gets the house leased to him and options. So he can sell the house as his pretty much. He then makes profit from that. I know he made 18,000 off one house and he said it took about 3 weeks to do

What type of investing is this and how do you do it?

[Jon Holdman]

Its wholesaling. A lease/option is as good as a contract. Its the option that matters, not the lease, though the lease does give you possession. Some folks prefer to use options for wholesaling. Once you find a buyer, you exercise your option to buy the house, then turn around and sell it to your buyer.