For a long time I did not consider lease options as a way to profit as a real estate investor. The recent bust in the housing economy has made me reconsider. Lease options are incredible, and in any market! They are great for sellers, buyers and investors. Here I list some benefits of lease options.
- Happens fast – Selling a property can take months even years. Once the lease option contract is signed, the buyers can move in.
- Avoid or minimize agent fees – Sellers do not have to pay 6% fees to agents, there are sometimes fees involved but not 6% of the purchase.
- Win-win for Buyers and Sellers – Lease Options benefit both buyers and sellers in many ways.
- Vacancy and Maintenance are no longer issues for sellers – Buyers move in and are responsible for maintenance. If they leave they lose their option payments and down payment.
- Investor benefits – Many advantages exist for investors, they can make a great deal of money doing lease options.
- Buyers have time to qualify – Buyers can build their credit strength during the lease term in order to qualify a loan and execute the purchase contract.
For more information on Lease Options, check out this helpful guide.