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Updated almost 12 years ago on . Most recent reply

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Steven Pierre
  • Miami, FL
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Passive income on wholesale property

Steven Pierre
  • Miami, FL
Posted

Hi, I was looking to do a wholesale lease option on a home but we had trouble finding buyers. So a couple weeks go by and I end up finding someone whose just interested in renting the property. I told the owner about it and he agrees to the deal. So my question is, is there a specific contract that needs to be filled out in order for me to secure my passive income from this deal every month? Thanks for therlies.

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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
Replied

It is really hard to say from what you posted.

What is market rent?
What lease did you get (term, etc)?
Did you get an option to lease? then assign for a fee?

Just trying to understand...

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