A Twist On Lease Options Allow Huge Money Without Investing
A Twist On Lease Options Allow Huge Money Without Investing
Lease option deals are known by many terms; lease option homes, lease to own homes, rent to own homes and lease with an option to buy. The bottom line is no matter what term you choose, by working within the lease option market, you can make a financial killing.
Did you happen to notice that I did not use the term investor? The reason for this is because you can become involved in the lease option real estate industry without ever investing in a single property. You do not need a dime of your own money (or anyone elses for that matter), and your credit is never pulled (you do not need a credit partner either).
Back in the 1800's California got to be known for the gold rush. Thousands of people gave up everything they owned to head out West to get rich mining for gold. Did you know that the majority of these poor souls never mined a single nugget of gold? They lost everything. Do you know who else never mined a nugget of gold but became wealthy beyond belief? The folks that sold denim jeans, pick axes and shovels. The reason behind me mentioning this is because you can become wealthy in real estate, more importantly the lease option section of the industry and not have to become an investor.
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With the economy the way it is today, there are more homes that are being foreclosed on and then sold to investors nationwide. These investors are picking these properties up at 50 cents on the dollar, slapping on some paint and installing carpeting and then lease optioning them to a seemingly qualified buyer. Now, let's put on our thinking caps and travel back to the 1800's. How can we make money out of this situation?
Right off the bat, I can think of a few of the more traditional ways to make money off this scenario;
Work out a whole deal with a private investigator firm and outsource background checks that you sell retail.
Create a gift basket service and make money selling coupons for local businesses.
Let the new owner know that you run a referral business and line up carpeting installers, handymen, etc. Get a nice commission for each job you line up.
There are a ton of ideas that you can come up with, but what I did to turn this lease option business into a cash cow was offer to get the seller a way to make sure that the lease option seller was able to get a loan in just 90 days and then cash them out. The seller was able to almost flip the properties due to me being able to get the buyers in loans ultra fast. They didn't have to wait a year and then find out the buyer could not get approved, fight them in court and start the entire process over again. They not only loved my process, but they pay 5-10% of the sales price of the home for this service.
The bottom line here is that there are a number of ways to make huge money in the real estate industry. Just come up with an outside the box twist on one aspect (like lease options) and make your money!
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