The Who-What-When-Where-Why & How of Lease Purchasing
By Claude Diamond
It’s a good idea to periodically review the basics of Lease Purchasing.
Who should do a Lease Purchase? Anyone who wants to do smart, profitable and non-adversarial real estate. There are many ways to do a deal, but few allow you to profit up front, limit liability, credit is not always an issue, small if any cash investment and no competition.
What is a Lease Purchase? Simply said, it’s a lease and a right to purchase (rather than an obligation). You have the same control as ownership without the liability. There is no violation of due on sale and there are great profits.
When do you do a Lease Purchase? There are many situations when optioning a property with a lease is so much easier and safer than buying a home or negotiating with alternative strategies. It’s great for the starting or seasoned investor. No more chasing tenants for timely rent payments, no more weekend maintenance. A Lease Purchase allows you to do what you do best as an investor. Your objective is to do deals and not get bogged down with time consuming and unprofitable activities.
Where do you do a Lease Purchase? Anywhere people live. Lease Purchasing works on all types of properties like single family homes, condos, town homes, mobile homes and land. You start out locally and then can develop a county, state, national or international business with very low overhead.
Why should you use Lease Purchasing? It’s smart real estate! You profit up front, without buying the home. You learn to control real estate instead of the other way around and you don’t need a real estate license. Let your competition do the old fashioned hard, complicated, costly and high liability stuff.
How do you do a Lease Purchase? You learn the concepts by studying my written, audio and visual information. CheckIn the case of someone who wishes to excel or make a career change, I recommend One-on- One Mentoring. There is no substitute for having your own success teacher.