Lease To Buy, Question About What Buyer Wants To Do

I emailed this guy that does lease options and I emailed him what I wanted to do and how I wanted to do this lease optoin. Below is what he emailed me back and this is a totally different way than how I was taught to do them so need anyone opinion to see if this is even a good deal for me. It seems kind of shady to me but this is my first deal of this kind so I am unsure.

Here is his email that he sent to me.

"the way i do lease option. is . a gre to pay your mortgage payment . taxes included. i agree to pay all maintenance of property up to 200.00.i do want total control. i can send info if u like. if u wanna hear more please let me know ty ."

Please tell me what you all think. I appreciate your help.

Comments(6)

  • AndrewKT6th August, 2004

    Sounds like what I've read for the most part. What seems odd about that to you?

    The only thing I would want to know more about is the "i do want total control".

  • feltman6th August, 2004

    I'd try to talk to him on the phone, either his english is really bad, or he is inept at typing. Before I could make any decision to do business with someone, I'd have to know their limitations - if this person is uneducated (i'm not talking harvard here, but more like a good quality 9th grade english class) i simply wouldn;t be able to trust them with my money.

    talk to him and see what he is all about; you might be pleasnatly surprised, and you might notice a wolf is a sheep's clothing!

  • reneeschultz6th August, 2004

    I guess what seems odd, is I thought on lease options the seller is supposed to make a little profet per month on the deal, isn't that how it works? I also thought having the buyer pay taxes for like more than two years could cause problems. Like I said I am new with this kind of deal, so that is why I am asking.

  • AndrewKT6th August, 2004

    I just posted a new topic with that specific question, maybe we'll get some insight there...

    http://www.thecreativeinvestor.com/ViewTopic32011-25.html

  • kenmax6th August, 2004

    i would stick to the contract that i'm comfortable with. i would include a monthly inspection of the prop. maybe via "bug spraying" which you do yourself to keep a close eye on the condition. don't assume that they will keep the place in good shape under the pretense of buying. i learned that the hard way.....kenmax

  • sacramentophil7th August, 2004

    Quote:
    On 2004-08-06 09:15, reneeschultz wrote:
    I guess what seems odd, is I thought on lease options the seller is supposed to make a little profet per month on the deal, isn't that how it works?
    renee...he is another investor and is simply offering you a deal which would give you no cash flow. You can name your own price (profitable price), or better yet, find a tenant/buyer who will actually be a tenant, not an investor. :-D

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