Love grant kemp but what your describing is technical and has a lot of moving parts and I’d say your probably going to run into problems more often than not . Lease options offer the least control . Just easier to flip a contract and gather cash
I'm assuming most wholesalers use purchase contracts, but does anyone use a lease options to control the deal and then look for a buyer?
What’s your end game? Are you wanting to Lease a property or you wanting to wholesale the property? there’s what is known as sandwich lease options that some people swear by, but I have never done a sandwich lease option, because I wanted to make sure I had control of the property and not just subleasing so to speak. I have done lease options, but I was on title when I did. A little bit of clarity on what you are trying to accomplish would go a long way.
Eventually my goal is to do buy and hold rentals, although I'm also considering the strategy described by Grant Kemp in Podcast 70 that involves controlling a deal for 60 days with a lease option, finding a new buyer, purchasing the property from the seller with subject 2 or owner financing, and then selling the property to the new buyer with a new WRAP mortgage. It's essentially a form of mortgage arbitrage, and because the deal is controlled with a lease option, the downside is limited if you can't find a new buyer. And this (podcast 70) is why I raised the question about wholesaling. If lease options, with nearly zero downside, can be used in these complicated subject 2 and WRAP mortgage arbitrage deals, is anyone using them in wholesaling? Or am I just missing something here??
Love grant kemp but what your describing is technical and has a lot of moving parts and I’d say your probably going to run into problems more often than not . Lease options offer the least control . Just easier to flip a contract and gather cash