L/O Out Of State

Anyone ever lease option a property out of state?

I had a guy call me today, he lives in illinois, I'm in florida.

This might turn out to be more of a pain than I'm willing to work with.

Should I take this one, or should I pass it on to an illinois local?

JB
[addsig]

Comments(3)

  • nickb7th October, 2004

    What is the situation? I am in Northern Il.

  • pserber12th October, 2004

    nickb,

    What are you looking for? I have a SFR in Rockford on the market. I am in San Diego, it was a very long distance rehab. I would L/O but want the $ out to invest in a closer state, like AZ.

    jbinvestor, from my experience, some distance is okay. But Illinois is too far from Fla. Plus, what is something goes wrong and you have to go there to handle it... in winter.

    Paula

  • LeaseOptionKing13th October, 2004

    As a general rule, I am against cooperative assignments, but this is one of those times I might consider it. You use your expertise to find the T/B, and you keep half (or all?) of the Option Consideration, while the Seller takes over from there.
    [addsig]

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