OfflineIve been studing Deans book for about 3 months now and I feel Im ready to make it happen. My credit is shot and I have no money(for now anyway) so im looking into assingning and doing lease option. I got the assigning contract part down but im trying to understand exactly what I need to do step by step to do a lease option purchase. Ive read so many things on this website and its got me sorta confused. If someone would be so kind enough to let me know "EXACTLY" step by step what I need to do to make this thing work. Thank you and god bless
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Jonathan Washington
Put "lease options" under Dean's picture in the search field and you will find lots of information there. Hope this helps.
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Dont try and do assignments and lease options at the same time. Pick one or the other. I did that in the begining and it got me nowhere. Pick assignments, learn your market, build your buyers list, bring in leads in good areas, assign them to your buyers, get paid!
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Focus on one thing at the time... you'll never know what you know until you do it... since you have the assigning contract part down, do that for now and master it. Then while you get your money saved do one lease option in which is in which you lease (rent) your property to a potential buyer who has the option to buy the property at the end of the lease term, can allow you to tap into a huge pool of people who want to buy a home but who, for one reason or another, aren't quite ready to make the purchase yet.
Step 1 Decide if a lease option is a good option for you.
Step 2 Place an ad.
Step 3 Do a background check on applicants
Step 4 Pre-qualify your lessee.
Step 5 Provide the potential buyer with a seller's disclosure form.
Step 6 Negotiate a contract and collect option money.
Step 7 Get the right insurance coverage for the lease.
Step 8 Collect monthly payments.