Straight RE Options Investing
Can anybody give any info on options RE investing? I am looking to get into this and looking for small commercial properties. Has anyone done this ? Or can you direct me to any info? Thanks so much! Aloha 
I've been reasonably successful with them--although I use a nonexclusive Option, not a straight Option. That way, my investment is minimal despite the value of the property ($20,000 or $20,000,000).
Thanks for the info, any idea where to learn more about options?
Try www.StraightOptions.com . This is totally dedicated to this topic. Forums, ebook, Free Newsletter.
There are creative ways around it, but first of all, call on other mortgage brokers. You might also try to locate your local real estate club and network with the members. They will point you in the right direction.
We are planning on refi'ing some properties after owning them for a year to try to skirt this issue, plus we get to pull some of the equity out earlier than if we would wait for the LO to excersize.
I've networked with several mortgage brokers and real estate brokers and haven't received any valuable info.
We are currently not in a position to purchase the homes this early in our business. However our tenants have been qualified for a mortgage and want to proceed with the purchase.
I guess we'll have to have our attorney write up the offer in such a way that the home is sold directly from the owner and collect our portion of the proceeds at closing as if we sold our option agreement with the tenant to the owner. We would prefer not to do this as the owner will know the profit we are making in a short period of time and may feel taken advantage of.
I'm still looking for a way around this for future applications. If someone has some indepth info or another resource we could use in searching for an answer, it would be greatly apprecitated.
If we find the answer to this issue ourselves we will post it here to help others get over this hurdle.
Respectfully,
Rick
Did you take the homes subject to? If so, you are the owner so this shouldn't be a problem.
Best of luck,
Andrew
No, all 9 properties that we've acquired are l/o only. In this neck of the woods, people are more reserved and s/t is a little more difficult unless we find a highly motivated seller. Even then it's difficult but not impossible. We're pushing for a land contract which is the more accepted terms and this will help only if we have the property atleast one yr and there is documentation showing why there is a big difference in our purchase price and the sale price to our tenants (FHA only).
Respectfully,
Rick