Investor · Alpharetta, GA · Member since 2015 · 241 posts · 185 votes
9y
I do lease options all the time- what is a lease option assignment? Do you mean locate tenant-buyers for a virtual deal you are doing and want to sell using a lease-option?
Canton, MA · Member since 2016 · 29 posts · 2 votes
9y
Richard Balsam hi it's basically when you act as the tenant buyer and then assign it to another person for a fee. And I just had an idea that would benefit us both. Can you please private message me?
Investor · Alpharetta, GA · Member since 2015 · 241 posts · 185 votes
9y
Still; no sure why you would try and assign a lease and option out of state. You're basically agreeing with a seller to lease their home with an option to buy it. I can see trying to sell the option (although a sandwich lease option may work better on paper than in real life) - but the lease is between you and the seller. State laws come into play. If the lease contains a non-subletting clause - and you assign the lease for a fee- you may be running afoul of the laws in that state. You need to review the laws - or ask an attorney if it falls under subletting rules - where the seller didn't approve anyone buy you. Remember- the seller ran your credit and approved you- and would have no record of the assignee you locate in this case. Just my two cents here. Good luck.
Wholesaler · Brockton, MA · Member since 2016 · 8 posts · 3 votes
9y
@Richard Balsam thank you I was also considering a sandwich lease option. Would you happen to have a way of getting tenant buyers in the canton area? I'd give you a referral fee for it
Investor · Alpharetta, GA · Member since 2015 · 241 posts · 185 votes
9y
Sorry - never even been to Canton. Lived here for 18 years now. A bit too far for me, so have no contacts for Canton. Taking back roads, it would take me over an hour to get there, driving major roads- would take me much longer.