I really haven’t been a fan of lease options for a variety of reasons, evidenced by the fact that I practically ignore them entirely in my book, “Seller Financing on Steroids”.
In my mind, there are more ways to be unpleasantly blindsided with lease options, than with regular ‘ol installment sales. But the odd thing is, lease options seem to be more accepted, and appear to be much more familiar to main street buyers and sellers, and the real estate professionals who serve them.
I am really looking forward to having Wendy Patton as the guest for the next monthly meeting of Owner Financing Club (Thursday, October 13, 2011). Besides the other things that will come up, I’m going to make sure we do lots of playing around with various scenarios… to ferret out why lease options might just be the best answer in certain situations, and how to minimize the inherent risks and liabilities.
Like me, Wendy is a licensed real estate broker, which means she is very concerned with doing things the right way… legally, ethically and intelligently. I am really looking forward to our chat, and plan to learn A LOT from her.
Also, click that picture right above…
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The article in this morning’s Issue #1 was about Simultaneous Closings (simo’s, simultaneous note sales, table funding, etc.) I also have a Calculator Corner section that will help you learn to use a financial calculator.
And, I introduced two new classes that I am starting later this month:
Owner Financing for Realtors
Why Notes, Why Now… and How?
The best way to participate in these classes is to be a member of the community at Owner Financing Club, but if you just want to participate in the classes without joining the club, you have that option.