I’m a bit of a “one-trick pony” when it comes to real estate. Yes, I have really enjoyed learning about and doing several of the more creative deals that Vena and Bill teach (and it is some awesome stuff that they teach, by the way!). Yet, as I slowly integrate these into my repertoire, the majority of the deals I work go exactly the same way; buy the property, and then give a lease with an option to purchase to a tenant/buyer. There are so many reasons I love this strategy, though my favorite is the three different profit centers provided within one single deal!
For example, the $4,000 minimum option fee that one of my tenants/buyers pays is similar to a small fee on a wholesale deal. This option fee is NOT a security deposit; it’s a non-refundable fee for having the option to purchase the property at some point in the future. So, it is your money the moment you receive it! And often times the tenant/buyer will put more down – $5,000 or $8,000 or even $10,000 or more!
Read More...