Purchase Lease Option Myself After 18 Months?
I am new to investing and I think lease option, subject-to is the way I want to go but I need to know is buying your own option a bad idea or is it done often.
There is a two unit apt building i am interested in but I am going to approach the seller with a lease option I want the building myself though. But credit is holding me back right now.
So should i purchase this building myself in 18 months but still get it under contract and cash flow from it now.
Thanks ahead of time
Although this has never happened to me, I would seem to think that she is in default of the signed lease at this time. Furthermore, she has not taken possession of the property and you have not given her any keys to the property.
At this point I would tell her that you are unwilling to wait any longer for her to properly execute the lease and wish to refund her money.
I also would worry about her ability to make timely lease payments as you are. Good Luck.
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