All Forum Posts by: Michael Carbonare

Michael, what Jon said.
One of the many advantages of a lease purchase or what you call a Rent To Own, is the various approaches you can take to get a deal. The sandwich lease you describe is but one approach. You can also utilize a Cooperative Assignment, for example, and several others as well.

That's an awful lot of money to pay for someone's get-rich-quick scheme. Not anti-education by any means, but those numbers make me want to hold on to my wallet.

Originally posted by Brian Gibbons:

. . .

C'mon, big guy! Upload a recent pic!

I would, but then there's the Bigger Pockets groupies I'd have to contend with.

Originally posted by Brian Gibbons:

Michael Carbonare knows his stuff.

So do I and I am younger and slightly better looking :)

See my signature.

Best of luck regardless in your search.

Brian

I don't see anything in your signature that says you're better looking.

Vance,
After 20 years of using options and lease options, I'm convinced they are the best strategy for the new investor. Done correctly, they are safe and require very little in the way of start up capital.
If you have questions, I have answers. . .or I'll fake it. ;-)

Jolene, take a look at options and lease options as your entry into this biz. In my opinion they are infinitely easier than wholesale deals. Been doing them for almost 20 years, so feel free to ask for help.

Former LIer, now in Florida by way of New Mexico. I still stay in touch with the market up your way. Hit me up if you have any questions.

How many months behind on the mortgage is the seller? Generally, homeowners that are in arrears do not make a good lease option candidate. The mortgage needs to be made current. But where does that money come from?

Hi, Yvonne. Where in NY are you these days?

Originally posted by Antoine Joseph:

Thanks for your reply Michael. I'm pretty confident with my knowledge of wholesaling, not so much with lease option deals. What makes them a good starting point for new investors?

Antoine, in my experience options and lease options are easier for the investor to get the homeowner to say "yes" to your offer. A homeowner will readily take my close-to-retail lease option offer versus the wholesaler's offer at 50% below market. If you know how to work a Cooperative Assignment type of option, they are risk free and relatively easy to put together.