We've worked with a number of investors over the years that used us for the exit strategy.You can certainly find cash buyers that will buy the houses and utilize your lease option program as an exit, but it's not as simple as that.It sounds like you are looking at doing this from the aspect of helping people, but something I learned early on was you have to get thick skin and also learn very well how to screen people and for a lease option to work, you really need to become knowledgeable in mortgage guidelines.If someone has $300 to put down, they aren't going to buy a house.From the cash buyer perspective, they need equity and a return on investment.Yes, we help a LOT of people with our LO program, but for it to work you have to approach it first from how to structure the lease option properly, which means the numbers etc.If you first approach it from how to help people with bad credit, you will get burned, and so will the cash buyer.

If not, work the numbers in for a L/O tactic.

After I got licensed as an LO, I was able to evaluate numbers and make an educated decision and stop the foreclosure and take over the property.

KyleThe FHA guidelines say that an individual may buy a 2-4 unit in which to live as his or her primary residence, and make a 3.5% down payment.If your LO (loan officer) is not able to do this loan, immediately we think1) Your LO's company does not offer FHA loans...this is unlikely but more and more of the big lenders are getting out of FHA mortgages completely.  2) If you already own a lot of rental units in your city, your LO may think that his underwriter will wonder if you are really going to live there, and what your true intentions as to occupancy of the property are going to be. 

@Jerry Lo  If you were going to hire someone to work in your business, would you want to interview them first, or just go off of what the resume says? 

Easy.Lease OptionA LO is a 2 contract (two SEPARATE contracts) agreement. 

Lo and behold, their young kids had flushed some small plastic toys down a toilet and they caused an obstruction that led to continual clogs.

LO's close your eyes for this next part -- i do know of a broker that would refund you like this post-closing. its because they're trying to soften the blow by at least making the cost go away, but in order to do it the right way (flipping to borrower-paid compensation and reducing their fee) it creates a logistical nightmare for compliance purposes. much easier to just cut you a check post-close, but it is a big no-no. sorry you're dealing with this. i would confirm on the locked LE/ Lock con about the pricing from your lock. if its in writing they should absolutely honor it. if not, your best option is likely to close anyway and then you can write them a really nasty review. people would love to know about 'bait and switch' tactics.best of luck!

After doing 2 deals your LO should know exactly what your DTI is and they should have told you what it is so that you can both figure if the next deal is doable or not.  

@Fausto Carosella yes  you might have to go portfolio but you really need an experienced LO to look over all of your documents and tell you the best way to go.