OfflineHello all, I recently had someone contact me about doing a lease option on a home (he's the buyer). I don't have a home yet but I was wondering how I qualify him. Is it similar to qualifying a cash buyer, that is getting all the pertinant information of what he's looking for and how much? Are there also specific questions I need to ask him? Any and all suggestions are welcome, thanks again.
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Jean Maestre
The Maestre Property Group, LLC
"Our deepest fear is NOT that we are inadequate, Our deepest fear is that we are powerful beyond measure"
"Do or do not, there is no try"
"Every adversity, every failure, every heartache, carries with it the seeds of an equal or greater benefit"
Patrons book on lease options though.
www.tw4homes.com website
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One thing to remember is the buyer is going to be living in the property, so the more ditailed information you can get from them the better direction you have in finding properties for them. You will also need to know what kind of up front money they have, what kind of monthly payments they can afford, and what time frame they need in order to qualify for a loan to buy the property. These elements will be important to know when you are putting the deal together.
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eroberts that makes a lot of sense, thanks. Tammy I'll have to look for that book sounds like it would have some good info in it.
Jean Maestre
The Maestre Property Group, LLC
"Our deepest fear is NOT that we are inadequate, Our deepest fear is that we are powerful beyond measure"
"Do or do not, there is no try"
"Every adversity, every failure, every heartache, carries with it the seeds of an equal or greater benefit"
"Investing in REal estate with Lease options and subject-to Deals" Just lease option and subject to should work under her name or without. Tammy
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.