My very first lease option ever.

[Stephen Thatcher]

Investment Info:

Single-family residence other investment.

Purchase price: $135,000
Cash invested: $1,000

This is a house I'm acquiring through a lease option deal. The seller agreed to lease the property to me for $1000 a month. That will pay his mortgage plus an extra $200 in his pocket. I'm paying a $1000 option fee in the first month. I have a tenant lined up who will lease from me for $1300 a month. I can purchase the property at any time in the next four years for $135,000 or find a tenant who needs time to build their credit to lease option from me for the purchase price of $140,000.

What made you interested in investing in this type of deal?

I had a friend who wanted to move to a larger home. He had a downpayment for another home so needing the money from the sale of this property wasn't necessary. He liked the idea of renting his property but didn't want the hassle. I proposed the lease option deal. He liked it.