Hello,I was wondering if anyone had a good tenant application form along with a good lease option contract that favors the seller more then the buyer.I understand that when doing an lease w/option that the tenant/buyer will gain equitable interest in the property with their option consideration which is applied to the purchase price as a down payment.

This is a copy of an email I plan to send to my partner and want to vet it through you folks here.

Does it look like I have it covered? Can you poke holes please? :)

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Here are my thoughts.

I ...

Now, if I take the above into consideration, do I still care that Detroit, or Dayton, or other areas like that can be bought dirt cheap?

My suggestion to you is that you need to take these things into consideration before you endorse his product.

It does make the bottom line look like a killer when you go to refi and shows a lot more equity, so your refi funds are considerably more.

Without going into too much detail, I have an offer on a short sale property listed on the MLS which is considerably below the properties actual value and which I am 90% certain will be accepted by the bank.

Without considerable net worth,or extraordinary LTV ratios,it has become very difficult.

Depending on what type of note it is (fixed, variable, prime, sub-prime etc.) a considerable profit can be made because you have a high "cash on cash" return.As the market picks back up, the owners of the notes will be able to securitize the paper or resell it back at more normal levels of value.

What I mean by that is I got an email that someone (I won't say who) who is a member of BP and NOT to my surprise has NOT even taken the consideration to properly fill out his profile and the only thing in it is the website where he sells some 'wholesaling' course thingy.

Of course you first always want to take into consideration any legal obligations and/or ramifications.