84pickup's blog

wholesale lease option???????????

December 7th, 2012 | posted by 84pickup

I received a call from a guy looking to sell his house.
The details- house is worth about 160k
mortgage is 150k
payments are 1372/month-4 months behind
could be rented for 1500/month
he is open to a lease option.
There is not enough cash flow to stay in the middle of this as a sandwich lease. Also, the option fee would have to be large enough to bring the mortgage to date and leave a profit for me-say at least 5k, so an option fee of more than 10k would be needed. Is there another angle that i am missing or should I just pass on this? Any thoughts DG family?

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84pickup's blog

wholesale lease option???????????

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