Real Estate Forums

JazzTouch42 · 06-05-2007, 02:23 PM

I am direct with an investment group that has picked up a load of properties in lots of different states.Most of these properties are for Lease option,and right now we are looking for Buyers for houses that are available in the following areas: Las Vegas,Sacramento,Phoenix,Tampa Bay,and Kansas City.

Most of these are 3-2 homes in nice suburban locations.Usually my investment group likes to do lease options with a 2-3 year term.We prefer Buyers with with at least $6000 Down and of course the monthlies will vary.They do not worry about credit.

Their process moves very fast to close on a deal if the Buyer is ready.They can go from talking with the perspective Buyer to them signing in a matter of days,it can happen that quickly,if interested,contact me to move forward,and i will get you direct with the investment group.

You must be the direct Principal Buyer on the deal.you can e-mail me at:
JazzTouch42@yahoo.com

Thank you,
Don Carter

Las Vegas Real Estate · 06-05-2007, 07:22 PM

Do any of you out there deal with many lease options? Here in the Las Vegas real estate market, my broker does not encourage them because there are often times many issues involved. How does one determine fair market value ahead of time??

REMAX LV · 06-11-2007, 06:16 PM

Yea, my company does not encourage them either. Lease options are cmoing up more often now that the market has changed a bit, but they are so risky that I shy away from getting involved. I just had a friend who had a major issue with one from over a year ago. The option money is gone, and now the tenant cannot qualify.

CedarCity · 06-12-2007, 07:02 AM

I am not a big fan either. Lots of risk with little reward.

Las Vegas Homes · 06-18-2007, 08:13 PM

Yeah, I have never really touched one. If the situation arises here in the Las Vegas home market, I simply do a lease with a first right of refusal to purchase after a certain amount of time. Lease options are too risky in my opinion. I mean, what if the owner defaults on the loan??

dan82 · 01-16-2008, 11:00 AM

Yes,in my case my company does not encourage them either but I have never had the need to use them.

lasvegasrealestate4u · 02-08-2008, 07:47 PM

Long ago We used to do something similar to what Las Vegas Homes mentioned to get good renters in. No down payments, just pay the rent on time and have the first right to purchase after a couple of years. (Higher price obviously.) Something we might be looking into doing again since Las Vegas prices have come down so much and buying rental homes makes sense again.

Orlando MLS · 03-05-2008, 12:39 PM

You can eliminate the risk of the owner defaulting by doing an assignable contract or an assumable mortgage. That way you ensure the payments are made and collect the rents, plus your markup on the monthly fee. You do a double closing and make an additional profit on the sale. That's how I understand these investors are doing it. You don't have to be licensed to do this as technically you are the owner of the property.

HSSD · 03-05-2008, 01:20 PM

The risk is to the buyer, and in those declining markets, it is an unnecessary risk.

Orlando MLS · 03-06-2008, 09:17 AM

HSSD - that's a pretty broad statement. It can be a risk to the buyer, but it can also be a fantastic way to obtain a home at a great price when the buyer has bad credit or does not have the savings required to get into a home. It can also help them with refinancing the home into their name by showing they have been making regular payments. It can give them time to build their credit etc.

Regardless of a declining market, If done properly, a lease option can be an excellent solution for many buyers.