All Forum Posts by: Trey Leigh

Yes Andrew, after I posted I noticed there were a bunch of similar questions already posted. I too think it would be nice to have direct MLS access. I think I'll look into the training required and see if any local brokers are interested in letting me in.

I was looking at possibly getting my real estate lisence. I have a full time job so it would have to be part time gig. I was wondering, as a buy and hold investor, would it be a positive or a negative to my real estate business affairs? I can see it occassionally generating some income as commission, but would it negatively affect me as someone that wants to buy discounted investment properties? If a homeowner came to me with a property that they wanted to sell and I like the price, but as an Agent I must give them a Market analysis for a fair price, I can see a potential conflict. I'm sure there's a bunch of REA/Landlords that might give me some insight.

Thanks

You're right, she isn't familiar with lease options. We decided to list it, if it doesn't move fairly quick?y, then we may pursue the LO. If we do I'm sure I'll be reaching out to you for guidance.

Thanks

You're right, she isn't familiar with lease options. We decided to list it, if it doesn't move fairly quick?y, then we may pursue the LO. If we do I'm sure I'll be reaching out to you for guidance.

Thanks

You're right, she isn't familiar with lease options. We decided to list it, if it doesn't move fairly quick?y, then we may pursue the LO. If we do I'm sure I'll be reaching out to you for guidance.

Thanks

Thank you

@Brian Gibbons and @Bill Gulley for the info.

Open and up front is the only way I will do a deal, I live in a small town and don't need to be looking over my shoulder ......its just not worth it.

Thanks to everyone for their input, I learned a lot and got a lot of good ideas to boot.

Trey

@Brant Richardson

If we hold, I will have to wait and save until I can do another, if we sell I'll get my initial investment plus the profit and can do another. This is why I lean toward selling because I like the hunt!

The lease option deal is foreign to me, other than someone pays a fee for the right to exercise an option to purchase the house at a given time for a given amount. Just like I pay an option fee to get out of a contract within so many days. I'm so new to this @Bill Gulley that everything you wrote in the previous post soared straight over my head!

@Jeff Lubeski

We bought it in November 2013. The good thing is that we bought this planning on it being a rental, and we can always go to that. I think it is a good deal in that regard. When the idea of a quick profit popped up... It got me to weighing the options. If we sell this it will be our second "inadvertent" flip in the last 12 months. Last one was a duplex we owned thar didn't perform and wasn't quite what we thought it was. While doing a quick rehab on one unit we asked our realtor what it was worth and she priced it 15k over what we had in it, we didn't make much after closing, but got out from under a bad deal.

@Brandon Hall

You have a good point, lots of options potentially, that's why my head is spinning not wanting to leave anything on the table.

@Brian Gibbons

If we did a lease option, what is a typical option fee as a % of sales price? and is that received on top of the deposit for the lease? I assume they forfeit the option if they don't buy the house correct?

Thanks for the great info