Getting Creative with Lease Option

[Michael Hudson]

Hey everyone! Fairly new to Real Estate investing, and I had a question for all of you! Recently, I began reading up on house hacking, and it definitely seems like a very great way for me to start, seeing as I work full time still and am still learning the ropes. Before I had discovered REI, I had gone into major debt, and virtually ruined my credit score and chances of me getting a Mortgage. SO my 2- part question is this: a) Is it a good idea to look for a lease-to-buy option combined with house hacking {assuming owner allows for master lease option}, b) would the house hacking equity I put into it actually count as my equity I put into the place??All answers are appreciated!

[Account Closed]

Personally I wouldn't do any work on a house I didn't own. A Lease Option/Purchase is the "Promise" that you can buy it at some future date if you can get financing etc etc

If your income is sufficient, do a Subject To instead. You actually own the house and any equity build up becomes yours. and No Bank qualifying on Subject To.