im new to this and i was wonerding how and why does a l/o work. Also when do you use a lease option over selling out right or renting. Please any feedback is grealty appreciated.
L/O works for a lot of reasons. Mainly it gives people the flexibility of getting a place and then you working on their credit or helping them get financed to own the property.
Many people who own property don't exactly need to sell right away but just want to cover their mortgage payments each month. With this, you can come in, pay them their payments each month, turn around and put someone in the home who puts money down (option payment) then you charge $100 bucks extra or more to them each month and a small inflation on the back end price when you give them the option to buy the property within a year or two.
L/O also allows you to be more flexible since you don't technically own the property, but you are responsible for it.
If you have any more questions, don't be afraid to ask.
L/O works for a lot of reasons. Mainly it gives people the flexibility of getting a place and then you working on their credit or helping them get financed to own the property.
Many people who own property don't exactly need to sell right away but just want to cover their mortgage payments each month. With this, you can come in, pay them their payments each month, turn around and put someone in the home who puts money down (option payment) then you charge $100 bucks extra or more to them each month and a small inflation on the back end price when you give them the option to buy the property within a year or two.
L/O also allows you to be more flexible since you don't technically own the property, but you are responsible for it.
If you have any more questions, don't be afraid to ask.
The Solutions Kid
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