How Lease Options Work

[Hart Hagan]

Ok, I know this is a big topic, but I have some questions about how lease options work.

For example,

If I put a house under contract, should I seek to get an exclusive right to market the house? I've heard some say that it's an easier sell if the seller continues to have the right to sell the house, e.g., through a realtor.

Can anyone share the option contract, the lease contract, or other contracts that come into play in these deals?

Do you have a checklist of things to do after the contract is signed. For example, one investor I know works with a realtor to find the tenant-buyer. The checklist makes it clear what is to be done.

How do you market the house to find tenants? Two investors I know take pictures and then use vflyer, which publishes the same ad to numerous sites, including zillow, trulia, ebay classified, and others.

If you do a direct mail campaign, what demographics do you target? I was thinking about targeting homes with out of state owners, with a value of 125-250k, that have been purchased in the last 1-3 years.

Thanks for any input.