Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 9 years ago,
The Bible Tells me Don't Brag About Tomorrow
...but Lord willing, good things are coming.
I got my first property under contract on a lease option today!
Got advice not to do a lease option, and did a whole lot of research on the topic before deciding it was the best avenue for this deal. Call me young and naïve, and you'd be 100% right 50% of the time. Lol, really though, I'm meeting with a lawyer on Monday, and the worst that can happen right now is I can back out of the contract (my legal right during first 14 days)...but I'd only use that as a last resort.
The seller was very happy to finally be getting something positive out of their property (cash flow and potential buyers), and I've already found buyers to assign the contract to, should they pass my tenant screening process!
I can't call this success yet until I pull out a profit from it, but things are looking good in the hood!
WRECK EM.