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Updated over 8 years ago on . Most recent reply
Lease Option - Wholesaler - Owner Financing
I am a wholesaler that currently has a duplex under a lease option agreement. The seller knows that my plan is to sell this option to a new buyer.
I have a buyer that is interested in purchasing the property by putting down FAR more than the standard 3% that I ask for as an option fee, and then setting up an owner financing situation to pay the rest off, rather than doing the advertised lease option.
So my question is this: Is there a way that I can structure this deal, being the 3rd party in the transaction, in which I can legally make money on it? Can I do this with a land contract? Double close? Something else?
Any help would be greatly appreciated! Thanks.