Lease/Option negotiations.

[Steven J.]

I would love to hear peoples opinions and $.02 about approaching a homeowner about a L/O deal.

I've done some work in the past with the seller so she knows my work ethic and that I'm responsible. I'm looking to actually find a home to move into and this one may be the one. She bought the house 10 months ago for 99k with 29k down. I'd like to approach her about doing lease option where our payments equal mortgage, insurance, and taxes which I'm estimating will be around $550 or so.

I don't believe they are super motivated but they are the average home buyer who have probably never really considered a lease option. If I approach them correctly I think I have a good shot at securing this home.

What would some of your experts suggest as a script or guideline to follow? I also don't know where to start negotiations. I've never given much thought to lease option but this might work well for us in the given situation. I've got her trust as a friend and now I just need the trust as a real estate investor.

Love to hear some ideas!