All Forum Posts by: James McCray
James McCray has started 8 posts and replied 22 times.
Post: Difference between lease option and owner financing.

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
@Edward B. Ok, thank you. :)
Post: Difference between lease option and owner financing.

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
@Edward B. Thank you. I'm wanting to start some lease option sandwich deals soon, or something similar.
I had just a few more questions about it.
When putting a home under a lease option, does the original seller expect to make a lot of profit from the monthly lease or are they trying to just get the mortgage payment? So I'm paying for all the expenses like taxes / insurance etc right? And if it is just the Mortgage payment, how can I make sure he's passing that on to the lender and not pocketing it for himself? Otherwise the bank may call the note.
Or does subject to just take of mortgage payments?
Also, when I lease option to someone els on the other end of the sandwich, I'm not managing them right? What's a good way to analyze homes to find a good spread to profit from on the other end?
Don't you need to know the average rent for the kind of home you're lease optioning, so you can negotiate a low enough monthly payment so you can still raise the payment on the other end and get a tenant in there and still be in a competitive price range with other similar houses?
Can this be done with any home at or close to market value?
What's a good argument to persuade a seller to take the lease option and that it's the best idea for them?
Where's the best place to find lease option contracts. Does BiggerPockets have a resource for all kinds of investor contracts?
Post: Difference between lease option and owner financing.

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
I'm talking about the due at closing clause in most lending contracts. The bank has the option to foreclose on the property during a lease option. Is anyone afraid of this? tThat's why I was wondering is it better / safer to just do a lease options on a free and clear property so the bank doesn't have the ability to foreclose if they wanted?
Also, what is the difference between a lease purchase and owner financing? They sound very similar.
Post: Difference between lease option and owner financing.

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
Is it good to find free and clear properties too for lease options so the bank can't close on your note?
Post: Bank seller financing forecloser?

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
Why did I just ask that first part.
Obvious not cuz the owner has no mortgage with the bank lol.
Is it a good idea to find free and clear deals for lease options too? So the bank doesn't call your note.
Post: Bank seller financing forecloser?

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
Can a bank foreclose on a seller financing deal that's owned free and clear?
Also, can someone explain to me in great detail what the difference is between lease options and seller financing is?
Post: Is the Trulia price trend an accurate way to find good deals?

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
Is the trulia price trends median sale price for homes in a specific zip code an accurate way to tell if your getting a good deal before looking up comparables?
Post: Looking for an answer to my question.

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
So I've learned that using real estate agents is not a good rout for a wholesaler. I'm trying to get familiar with List Source so I can find motivated sellers and put properties under contract without an agent.
Is anyone here familiar with List Source. Can you recommend the best search filter parameters for finding motivated sellers?
Post: Pulling lists off the MLS

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
That's awesome man. It'd be awesome just to have that to be free and make everyone stop screaming about legality and all that. You're like home free now dude. They can't touch you. :)
Post: Pulling lists off the MLS

James McCrayPosted
- Rental Property Investor
- Little Rock, AR
- Posts 29
- Votes 7
Did you get a license to have access to the MLS?