How to make money in Lease Purchase real estate
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Great Job...
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Great Vid! I make my money by watching and rating videos at
varolo(DOT)com/village/earner
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OK, when my end buyer goes to get his permanent financing at the lender, part of his qualifying requirement is to show a down payment and principal credit on his payments, if any but, his "down payment" credit was paid to me as an "option fee" and not to the seller! I'm not in the final transaction so how does he get credit for those payments and the option fee to qualify for the loan?
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I am thankful to have seen this video. Great one! thank you and keep up the good work!
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Claude you tell it like is, thank you
Mark
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this is for real, I just talked to him on the phone!
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Very helpful. The Great Recession has changed everything except the rules of real estate.
realestatenz2 2 months ago
@realestatenz2 Well said;lets not forget that real estate is a commodity and everyone needs a place to live. We provide solutions to the market with the lease purchase solution. Regardless of this horrible recession we can still specialize and generate consistent income by becoming a specialist in problem solving with options
cdmentor 2 months ago
So long as there is a "Good" Contract and a correct money/paper trail the amounts paid will usually apply to the mortgage application if it applies to the purchase price! It would be a smart move however to set up a prior relationship with a priority lender to avoid problematic issues. I usually have the Tenant/Buyer see my mortgage broker in the early stages to avoid problems. He advises on qualification etc.
cdmentor 1 year ago
Thanks Claude great advice. I am looking forward to the BIG KIT coming in the mail this week. Lease optioning is going to work out great. Im looking forward to this new journey.
Sandra Barton
Central California
Private Real Estate Investor 4 years
bartonsandra 3 years ago
You are welcome Sandra; lets see some deals in the next 30 days :-)
Claude
cdmentor 3 years ago