Are There Any Frequent Lease-Option Investors in the Milwaukee Area?

[Account Closed]

Hi my name is Vanessa,

I am a wholesaler in Milwaukee county and I'm now branching out into Waukesha county as well. 

I find homes all the time that need minimal work and are too much to get at a deep discount because the owners know that it's worth more but not in the condition that real estate agents are used to, to show and sell.

So I wanted to know if there were any lease option investors in the area.

Sandwich lease options are a great way to invest because you can cash flow and have the potential to make a nice profit when the tenant-buyer buys. I work with probate motivated sellers a lot and many of them don't need the monthly cash flow because the homes are owned free and clear and  have no mortgages on them. So they won't need that much in rent.

So if there are any lease-option investors in the area send me a message and let's get to talking about these future deals

Thank you,

Vanessa

[Brian Gibbons]

Be cautious with sandwich lease options Vanessa, @Bill Gulley and I have been talking on this subject for a long time.

If you are dealing with free and clear houses, taking title via a private 1st mortgage - installment sale and renting or lease option is smarter than a sandwich.

Also on the selling on lease option side, watch out for rent credits, in other words do not do them, consider a ROFR, or right of first refusal, as Dodd Frank, SAFE Act, etc. has come into play.

Use a RMLO or Reg Mortg Loan Orginator with your buyers as per the ATR (Ability to Repay Rule) will bite you later if the buyer gets an attorney on a seller financed deal.