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Updated almost 11 years ago on . Most recent reply

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3
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Amanda Herr
  • Specialist
  • Saint Paul, MN
0
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3
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Question on lease option and subject to

Amanda Herr
  • Specialist
  • Saint Paul, MN
Posted

Anyone out there,

I got a question. I'm a single mom and trying to do a subject to and lease option. I need some guidance here.

I know I filled the purchase agreement, deed contract, and assume to pay the seller's mortgage. The deed contract, will I closed at a title company? I'm looking to rent that property within the next 3 years and sell it to another buyer.

How do I profit that? or have a smooth transition.

Now lease to option. I'm reading a book from an investor who wrote it. I have some questions. If the seller sold $100,000 and still have equity, I accept her/his offer, paid $1,000 option to buy. Let's just said I found a tenant buyer and offer the selling price to her for $160,000 and he/she paid $5000 option fee for 18 months.

My question is how to the seller gets paid when she sold $100,000 to me and how do I get paid when I sold $160,000 to the tenant buyer.

I know it sounds confuse. I would like an mentor if anyone can help. I went to the flip men TV show workshop but not willing to pay $41,000 on doing these deals. If I can find a mentor that of course is affordable but not too expensive like those workshop, i'm willing to pay.

Thanks,

Amanda

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