Today, I want to share what is the least option from a seller's perspective, and if that's an excellent way to sell a home.
If you're thinking of buying through a lease option, this may not be viable, but if you're an investor. You want to INCREASE your CASH FLOW; you can set a set date of 18 months - 2 years from now, and you will be able to lock in how much you're going to sell your property for assuming that the buyer exercises their option to buy.
How can you increase your cash flow as an investor? These are a few examples:
Rent could be at $1500 for 1-2 years
On top of that, they could pay $500 a month for an option deposit, which would go towards the purchase of the property, but if they don't purchase the property, then the money will be forfeited.
With these said, it's a win-win situation for both the buyer and seller. As a seller, you will have protection, and as a buyer, you would know what you're going to get, and it's a chance to improve your credit.
I sold two lease options in the past:
1. I sold to an immigrant, and he had a low salary, and even with that, he was the best tenant I ever had, he did have some challenges at the end to be able to purchase the property, So, I was able to guide him through that process and extend his lease.
2. I sold a higher-priced property to a lawyer, and it was the worst, to be honest. Not only was it the 2nd eviction I ever had to do, but she also tore up the house and left a big mess I had to clean up. I don't think anyone would want to experience that.
As we all know, experience is the best teacher.
If you're interested to learn more about Real Estate Investing or tips and strategies about Real Estate, you can reach me at 703-346-2776 or send me an email at Dan@greetingsvirginia.com. We will be more than happy to help you.
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