All Topics / Creative Investing / Back to back’s – How to “buy” the Lease Option
I am looking at “Sandwich” or “Back to Back” Lease Options and I would like some help with wording how to ask for a lease option, please.
I have my head pretty well around selling a lease option, but, I don’t yet have a real punchy way to ask for control of a property on a lease option in the first place. Just saying something like “I’d love to buy this house, but I don’t have any money” obviously doesn’t put me in a really strong footing, does it?
I’ve considered “My money is tied up for the next 2 years, so I’d like to rent the property in the meantime”, but it still isn’t there.
I’ve looked at “How about I give you your price, with some now and some later. I’ll give you $1 now and the rest at $XXX per week.” Closer, but Still not quite there. Adding a bit would be something like $1000 now, the rest in 3 years and I’ll pay you $XXX per week in the mean time.” But it’s still not there.
Or should I be asking along the lines of “I’d really like to rent it now and buy it down the track. How much rent would I have to pay in order to purchase down the track?”
I feel like I’m not quite going in the right direction with this, so I figured I’d ask people who do it far more often than I have.
So, How do you actually ask for a Lease Option that you’re going to turn around and Lease Option?
thanks,
Craig.
How about finding a motivated vendor or landlord and saying,
If I rent this house for 3 years and the rent covers your mortgage repayments, is there any reason why I can’t buy this home in the future?
If they have a problem with the sublet clause ensure them that you will be responsible for all payments to them even if your tenants default!
Investment Property Management
http://www.adprop.com.auDr.X
Is there much in the way of lease options in SA. Is there a publication or site that has these offers or does one have to sift them out via contact etc.Could you explain how vendor finance works in SA.
Cheers
SGLife should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways Beer in one hand – Pizza in the other, body thoroughly used up, totally worn out, and screaming WOO HOO!”
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