We look for the foreclosure for the great deal, but unless we can do some good then really we are simply part of the problem.We are starting to do deals in Australia that have been around since Adam was a boy and they don't involve bank finance but offer a means of structuring a sale and a purchase to give the seller what they desperately need, while at the same time giving a buyer what they need and can't get - a house!

By that time, you'll have learned a number of "non-bank" methods for acquiring rental properties.Good Luck!

What is the best method to go out and get leads for my company?

I am not recomending you break the law.Having said that, there are ways to structure the deal to make in legal.

So while I'm not going to say whether or not you should go through with it, I'll try to provide you with some things to consider when making your decision.Pros:You can get the payment off your booksYou can sell the property for full price, when it doesn't appear that there is much interest right nowAssuming you are requiring an option payment (which I would suggest), you will get some additional cash nowSo basically the Pros can be summed up in that you have the potential to do pretty well financiallyCons:Lease options typically require less landlord hassle, but at the end of the day you are still a landlordThey could trash the house and then not buy itThey could stop paying and make you evict them, costing you time and money (there is also the possibility with lease options if they aren't structured properly that the courts could deem them to be a sale rather than a leasing arrangement in which case you would have to foreclose instead of the less painful eviction).

I see a lot of interest and questions about LLCs and business entity structure.

We have no debt, despite our degrees, in large part due to the low costs of this method of education.I'm currently a customer support rep for a technology company.

The depreciation on rental properties (residential 1-4 units) are calculated from the value of the improvements and divided by 27.5 years.For example, lets say your rental is purchased for $200,000 and the land is assessed at $40,000 and the structure (improvements) assessed at $160,000.

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Make sure you close before the deadline so you have time to put your plan B in place before the contract expires.Just make sure you have a good attorney or title company and document everything.There's all kinds of ways to structure deals.