All Forum Posts by: Mike Cartmell

Thanks for your input, it is much appreciated.

I did not buy the home with intentions of flipping. I am just trying to get some experience with lease options and have no intentions of making it a rental. The home is new (built in 2005) and needs no repairs. The house is actually in Fountain, next to Fort Carson. Its a military community. I think there will be some decent appreciation in years to come because of the troops that will be coming home.

As far as flipping a property, I would be doing so with another property that I have not purchased yet and then sell it on a lease option. I was just asking if it would be less risky to invest in another property to get some experience or just do it with my own home?

Thanks again!

Hi all,
I'm fairly new to real estate investing and am looking to venture into lease options. I purchase a short sale home as my primary residence for 189k just over 4 months ago. A house with the same floorplan down the street is on the market for 215k. I was thinking of trying to sell the home as rent-to-own (lease option). This is how I see the numbers. Based on my calculation on a two year term I could make around 40-50k assuming a 5% annual appreciation with the current market value at 215k.

I was also thinking of buying a fixer upper and flipping it buy selling with a lease option. I have never flipped before and find it a bit more risky than selling my current home as mentioned above.

Can anyone give some advice/recommendation on either situation?

Thanks,
Mike