Tips for newbie doing lease options

[Sarah Bechthold]

I have no deals under my belt yet, and I find lease options (particularly sandwich lease options) the most appealing as a way to get my start. I’m also very interested in wholesaling but I’d like to get some monthly cash flow set up vs smaller chucks of cash with each deal. Would you recommend lease options as a good place to start for a newbie? How do you deal with a tenant who doesn’t pay on time or stops paying all together in lease options? Of course I would thoroughly vet any prospective tenants to avoid this happening. What type of properties should I be looking for as good lease option candidates?

I’m looking invest in Saint Paul, MN to Western WI.