Real Estate Investing Training Video Risk Free Lease Options

[prijectbabi]

did u read the rich dad education book ? guide to real estate investing mr mike cuz im bout 2 subsribe u !

[showem88]

I like what you are doing with your YouTube channel! I checked out a few videos and I like what I see! Great job!

[godfrey1977]

Hey Mike, so how do you pass on the cleaning bill to the seller? Do let them know up front what they will be responsible for and do you have it somewhere in the contract?

[localmentor]

@godfrey1977 I have a clause in my agreement that states what clean up or repairs need done prior to marketing it and who's responsibility it is. We usually pay for it out of pocket since it's with our contractors, but we send the bill to them or take it out of collected rent.

[RLJ93727]

Hope you keep the great real estate vids coming

[WeBuyHomesNow]

Phenomenal sir. Thanks.

[WeBuyHomesNow]

Can you do this with commercial income properties?

[localmentor]

@WeBuyHomesNow - it's possible, but in Commercial you are typically dealing with a more astute seller. These work well with an over-leveraged property with little equity where the seller is an "accidental landlord" (not so many "accidental commercial landlords".

Sandwich leasing is a little more common in commercial.

[clintcarter]

Your awesome.:)

Thanks for sharing.

[jmpndcrew]

when you wholesale a property are those the properties found in preforclosure???

[localmentor]

typically not but short-saling is a way to create wholesale properties

[localmentor]

sure

[altha2008eduction]

I'm on disability, can I do a lease option and assign the contract to another family memeber so it will not show up in my name

[localmentor]

should be up and at 'em - not sure why it was down

[godfrey1977]

Michael just thought you should know, your site is not coming up. It reads, "Microsoft VBScript compilation error '800a03ee'

I would love to check it out when it is up.

Mr. Godfrey

[localmentor]

Even without the option, locking in risk-free cash flow is hardly a bad thing. One local investor I know put over 50 of these together in his first year or so. That's 5-7k per month of risk free cash flow on property he doesn't own.

Best advice for anyone BEFORE implementing any strategy is talk to an attorney in your state to make sure your doing everything above board. Too easy to make money doing things the right way to risk your reputation over a couple bucks.

[localmentor]

if your paperwork is structured correctly putting you in position as a principal, yes it is.

Sandwich leases - performance based - have been used for years and years and years. tying it in with an option is nothing new either.

TX has specific laws regarding lease options so in that state you need to understand, very specifically the timelines you must meet - which would likely not make it a good strategy there.

[ward185]

how are you finding your sellers interested in doing a lease option?and does some of the terms scare them away Thanks for any info you can give me.The process sounds like the niche I have been searching for...

[localmentor]

direct response marketing to a targeted list. Same list I'm looking for subject to deals, these come from houses with payments too high for market rents and/or not enough equity (too much risk).

[CashBackAtEbay]

Interesting idea (if it's legal).

[deannatroupe]

This video was very good. I posted it to my myspace blog.