Providence, RI/Massachusetts Wholesale lease option lead/partner

[Matthew Parent]

Hello,

I have a potential lead in Southeastern MA I could use some help with.

A 3100 sq ft single family house in Rehoboth, MA. The seller is moving into RI and would like to rent the house out. It has 3/4 bedrooms, with a 2 car garage, on nearly 3 acres of land. I've talked with her about leasing her home and she is very comfortable with that option being how she was going to rent it outright anyway.

I'm thinking this would make a good, lease option flip to the right family.

I could use some help with some that might have done these deals here.

Get in touch today!

Thanks

Matt

[Anthony Thompson]

For any new folks, I'm guessing RMLO = Residential Mortgage Loan Officer.

The impression I got when someone presented on Dodd Frank at Ann's group (Black Diamond) last month was, if you're going to get a RMLO to underwrite them, that's pretty much bank approval for a loan, so you may as well just sell it to them at that point instead of going through the lease option rigmarole.

My thought is, I'd rather not be the test case for the new law as far as wading out into uncharted waters - but I'm sure there are opportunities there for braver souls :)

I was surprised though, and a little dismayed, to learn that Dodd Frank has a section specifically for lease options. Continues the trend of "regulate everything under the sun".