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Lease 2 Purchase Knowledge Base

Welcome to the Lease 2 Purchase Knowledge Base. This page contains helpful user-submitted articles and tips about specific real estate investing topics. Let's help eachother out and share the Knowledge!

Presenting a Lease Option Deal

By Shablees from Chat Board

Q: (by Shablees)

Can anyone out there can point me to the right steps to take when presenting a lease option offer for my very first home purchase for my personal dwelling.

I need some advice on what kind of offer to present for a lease option with low low down. I want to pay a little less a month than $1,300 (what we're paying in rent now), but I also don't want to insult the owners and blow the deal either.

A: (gretg)

Before you talk to him, have a few scenarios prepared -- 3 or 4.

- How much can you can really afford a month? You might give the owner more than the property is worth.
- How long of a term are you looking for?
- How much would you like him to credit you towards the purchase?
- How much would you pay to extend the contract one more year if necessary? He may need the cash and not want to rent to own.

They also have those interest only loans out there, maybe that would work for you.

Or just go there and chat with him for a while, talk about his pictures on the wall, how beautiful the home is. You might ask him why in the world would are you selling such a nice home?

Gather some info, then go home and digest it. Then go back again and talk.

Bottom line, tell him you situation and what you would like to do, if it works fine if not move on.

You can run an ad in the paper and say couple would like to rent to own a 3/2/2 , or rent wilth option, etc. Then let them call you.

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