Who is the most credible lease option teacher?

Question

Give me a name of who that could be. I'm not taking about some guru who is not currently doing the strategy they teach. I'm talking about someone who has taught this investing strategy and it worked and still is working today.

Corey Woodman · Answer

I'm in the middle of doing 3 sandwich lease options now. I haven't put any of my own money down until I find a tenant as stated in the lease option agreement between the seller and I. I'm in PA, but id be happy to share a contract with an example in in, and then one I have with the tenants. I have 3 seperate contracts with the tenants though. A residential lease, a real estate option to purchase agreement, then a buyers acknowledgement form that just runs through some of the major points in the agreement so they're fully aware of everything and any worst case scenarios...anyonr else do sandwich lease options? Make sure to find an attorney that understand what you're doing. The first attorney I picked thought I was acting as a realtor,  so make sure to advertise your contract, NOT the house

Shiloh Lundahl · Answer

@Tony Marcelle my partner and I have gone to the John Burley 3-day training in Arizona twice. It was definantly worth the money (a few hundred dollars). We did not do his week long training or his year long training but what we did get out of the 3 day training changed the way we invest and we ended up doing 16 lease options last year and are in the middle of completing 10 more this year.

Tony Marcelle · Answer

@Adam Scheetz I do not know how well versed he is, but I was under the assumption he knew what he was talking about. Since he is a lawyer and I am not, I trusted his advice.

Adam Scheetz · Answer

@Tony Marcelle is your lawyer well versed in real estate investing? Having a tenant buyer leave can actually be a great opportunity. Here's why;

1. You use your processes to find and qualify another buyer and secure ANOTHER non/refundable option fee. That's two paydays just because of the option fee. Also, that option fee can eaisly cover several months of rent you are "on the hook" for.

2. You've been paying down the principal owed to your seller, you can renegotiate, change the terms with the next tenant buyer, or sell your asset "The option". Either way the original seller is still taken care of.

3. Because your paying down the principal owed to your seller, any rental spread from the buyer and seller agreement is still yours to keep and the previous buyer forfeited that when they left the deal.

If you structure a cushion in your deal such as a 36 month lease with the seller and a 12-18 month lease with the buyer, there's plenty of room to be safe.

If your lawyer is a good real estate attorney he should have told you this and seen dollar signs flashing from the opportunity to be involved.

Tony Marcelle · Answer

I spoke to my lawyer. He advised me not to get involved in sandwich lease options because if my tenant buyer who is subleasing from me fails to make monthly payments then I am still on the hook to make payments to the original seller on the front end of the sandwich lease option. My lawyer says it is too risky if situations like this happens. That made me rethink about doing sandwich lease options based on what my lawyer said.

Tony Marcelle · Answer

Are you doing lease options or sandwich lease options? I wanted to do sandwich lease options, but I hear sandwich lease options are not good for newbie investors with no money of their own.

Tony Marcelle · Answer

@Brandon Sturgill I want cash flow income. That is what I have been looking for.

Brandon Sturgill · Answer

@Tony Marcelle Lease option is just leasing a property with an option to buy...it's not so complicated that you need a teacher. It's more about putting properties into a "best use" funnel and having many acquisition tools in your tool belt...one of them being a lease option. You'd probably learn more from a contract or RE lawyer about how the deal is structured.

What is it that you are trying to accomplish with a lease option? Or in general?

Who is the most credible lease option teacher?

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