All Forum Posts by: Gavin Rein

Thanks! 

I'm reading Brandon Turner's Investing in RE with Low Money Down and I can't wrap my head around what a "Lease Option" represents. 

I understand that a lessee is paying rent + an option fee to live in the house while they get their credit/finances in order to eventually purchase the house within the duration of the lease option. But things start throwing me off once we start talking about the lessee turning the house into an Airbnb, renting rooms out, etc. 

Say I am leasing my house out to Bob. I've done my research and trust him to be a good lessee and not do anything crazy in the house during the time he's there. However, Bob could theoretically rent out the house to a drug lord who does all of his crack/cocaine operations out of the house. Eventually, the lease option expires and Bob decided not to go through with purchasing the house and parts ways. I then go to the property to check it out and I find tons of damage, drugs, bullet shells, cigarettes, stained carpets, weird smells, etc. I contact Bob and ask him what happened and he tells me he rented it out to some crack dealer that I had no idea about/would not have let into my house.

How does Bob have the authority as a lessee to take a lease on my house, rent it out to somebody without running it by me (especially if it's somebody I would disapprove of), and then just leave once the lease option expires? I understand that he'll most likely pay for all of the damage, but the very idea of a lessee having the authority to just rent the house to anybody without my approval seems crazy. Is there something I'm not understanding in terms of liability? 

Thanks for the response

Before I start, quick thanks to everybody in the forums who take the time to draft up responses for me with my previous questions in this forum. It's helped me narrow down what I'm looking for in a job, and that (as of right now) is a Real Estate Acquisition Analyst.

After researching the experience that is expected to assume this role (such as Argus Enterprise and Excel), I'm having trouble pinpointing entry-level jobs in real estate that would involve these programs and give me the experience I need. For anybody who is an Acquisition Analyst or knows someone who is, what were you doing previously and what led you to where you are today?

Thanks

(I currently only have a BBA in Supply Chain Management and no RE background yet)

Before I start, quick thanks to everybody in the forums who take the time to draft up responses for me with my previous questions in this forum. It's helped me narrow down what I'm looking for in a job, and that (as of right now) is a Real Estate Acquisition Analyst.

After researching the experience that is expected to assume this role (such as Argus Enterprise and Excel), I'm having trouble pinpointing entry-level jobs in real estate that would involve these programs and give me the experience I need. For anybody who is an Acquisition Analyst or knows someone who is, what were you doing previously and what led you to where you are today?

Thanks

(I currently only have a BBA in Supply Chain Management and no RE background yet)

The issue with this is I’ve heard by so many people to just invest ASAP (obviously only if the numbers crunch out). So waiting until I have a reliable stream of income as a 1099 will take however long it takes (since the market is going to really have the most influence on this and not my work ethic). Say 6-7 years until a solid reliable stream of income, that’s 6-7 years until I can start accessing the type of loans I’m looking for 

Hello my name is Gavin Rein and I'm posting because I'm finding myself unable to decide what job to apply for due to my fear of how it could negatively affect my ability to commit to real estate investment

The majority of the jobs that I find myself being drawn to the most are jobs that could help me learn more and make contacts within the real estate space (property manager, agent, loan officer, etc). The PROBLEM is that a lot of these jobs are 1099 and I'm afraid that going down that route would make loan qualification (for my RE Investment career) more difficult versus working a W2 job. 

Any advice?