Is Wholesaling Lease options worth it?

[Justin Dossey]

Hey everyone,

I recently listened to Joe McCall speak about Wholesaling Lease Options at a local REI meetup here in St. Louis. The whole process seems very interesting to me. The process seems pretty straight forward and simple. I can see some of the negatives that weren't addressed and wanted to see what peoples experience is doing this.

Negatives: 

-Finding tenants

-Having a tenant that destroys the house(would I be liable?)

These are the 2 main concerns I have. Joe does sell his course for $1500 or so that walks you through everything. I want to be as diverse as possible and this seems like a good way to branch out. Let me know your thoughts!

[Joe McCall]

Lease options are awesome... IF you do them right and set them up to win from the beginning. 

1) Only do Lease Options on nice homes in nice areas (median price range) - where people want to own homes.

2) Only put tenant buyers in homes who put at least 3% down and have a realistic chance of getting a mortgage in 6-12 months. Make sure they’re working with a local mortgage broker. 

If you do those two things, you will have good success with your lease options. 

:)