wholesaling lease options

[Ed Kahle]

Has anyone wholesaled a lease option for a fee from the buyer?  I have some older wholesale properties I've offered for cash sales but can't move them.  I get calls to purchase as lease options more than cash sales.  If the seller goes for it, I'm considering on assigning the lease option to my buyer.  Sell for $5,000 down plus terms and buy for the same terms with $2,000 down, where I would retain the difference, $3,000 and assign the terms and walk away.

Has any one done this much and are there pitfalls to consider? 

[Brian Gibbons]

Hi @ed 

@Ed Kahle undefined

I've assigned lease options to buyers for 30 years

Use a RMLO to underwrite the tenant buyer to protect you the REI and your seller from Dodd Frank issues

[Chaz Reid]

I personally haven't done it, but I've heard countless stories from people who have.