I just want to say I've known Wendy for like half a dozen years or so now, and she's THE best of the best in educators and thought leaders when it comes to lease option real estate investing. Hands down. If you want to master making money through lease options, she's your gal.
The option fee gives the buyer the EXCLUSIVE right to buy your property. It is not taking advantage of them to keep it if you have screened them the right way, however if you have put anyone in there just to keep the fee that is wrong. In other words, if i screw up, shame on me, if my buyer screws up, shame on them. :-) I hope that helps.
when you get an option fee from your tenant buyer, that should go towards their down payment when they exercise the option. The only way you profit all of the option fee is if they need out of the deal because of whatever reason. I've heard investors say they just pocket the option fee, but thats kind of taking advantage of people.
Thanks for the Info Wendy.
ADRIAN
Cardiff, UK
PropertyBuyerCash 1 year ago
I just want to say I've known Wendy for like half a dozen years or so now, and she's THE best of the best in educators and thought leaders when it comes to lease option real estate investing. Hands down. If you want to master making money through lease options, she's your gal.
...jp
FlippingHomes 2 years ago
The option fee gives the buyer the EXCLUSIVE right to buy your property. It is not taking advantage of them to keep it if you have screened them the right way, however if you have put anyone in there just to keep the fee that is wrong. In other words, if i screw up, shame on me, if my buyer screws up, shame on them. :-) I hope that helps.
WendyPatton 2 years ago
when you get an option fee from your tenant buyer, that should go towards their down payment when they exercise the option. The only way you profit all of the option fee is if they need out of the deal because of whatever reason. I've heard investors say they just pocket the option fee, but thats kind of taking advantage of people.
presbreeze 2 years ago