Your 2021 Action Plan for Sandwich Lease Options

Are you stuck on the #1 problem for people wanting to get into real estate – knowing where to begin? We’re coming to the end of 2020 and I think it’s safe to say that we all want 2021 to be much different. I want to help you prepare to kick-off 2021 successfully with your Action Plan for sandwich lease options!

This is About How You Start Your Action Plan to Earn Over $100,000 in 2021!

Sandwich Lease Options Can Earn $100,000 for 10 Hours of Work Per Week

Do I believe you can earn $100,000 with sandwich lease options in 2021 by working at it 10 hours a week? The answer is absolutely YES! But let’s be crystal clear. You are going to have to put in the 10 hours a week. Your action plan must be based on consistent effort. It does not mean 10 hours the first week and then 7 hours the second week and then 5 hours the third week and so on.

If you work full time, then 10 hours may be all you can do until your bank account convinces you that you can consistently earn a six-figure income from sandwich lease options. If you are not working full time, then I suggest you beef it up and do more. My courses are specifically structured so that you can go at your own pace. But if you don’t consistently put in at least 10 hours a week, you won’t make steady progress. You’ll lose your enthusiasm when results don’t happen fast enough… fast enough means having your first deal in January.

When you do put real effort into taking control without ownership….

You’ll soon be eager to move up to more advanced techniques like the Wealth Building Arsenal and Get the Deed “Subject To.”

Structuring Your Sandwich Lease Option Action Plan

As the weeks move along, you WILL get sandwich lease option deals. Something you want to plan for is splitting your time between finding more deals, keeping up with your contacts, and managing tenant-buyers for the deals you already have. It’s important to find a balance here. Keeping everything balanced is key to earning at least $100,000 in 2021. If you don’t keep looking for more deals, you’ll be starting all over again once the deals you have cash out.

Before you even start the plan -read my eBook, Sandwich Lease Options. The order I recommend you complete the courses are:

  1. Buying on Options
  2. Working with Realtors
  3. Selling on Options
  4. Cooperative Lease Options
  5. Wealth Building Arsenal
  6. Get the Deed “Subject To.”

Completing the courses is what you do for the first 2 weeks of your 2021 Action Plan!

Begin Your Planning for 2021

You have a few weeks remaining in 2020 to have a robust plan ready for 2021. Get started NOW! Everyone needs to have goals. For business people, goals are the cornerstone for future plans. Goals provide daily and long term direction, motivation, and clear focus. They enable you to see the forest for the trees. If you ever become confused about what you are working on or towards, a quick glance at your goals instantly puts you back on track.

Goals should be straightforward and emphasize what we want to happen. Specifics help us focus our efforts, clearly define what we are going to do, and how we are going to do it.

S.M.A.R.T. GOALS:

S is Specific

M is Measurable

A is Attainable

R is Realistic

T is Timely

Specific is the What, Why, and How of your SMART goals. WHAT are you going to do? Use action words such as direct, organize, coordinate, lead, develop, plan, build, etc. WHY is this important to do at this time? What do you want to ultimately accomplish? HOW are you going to do it? Do it by… taking specific actions.

Measurable. If you can’t measure it, you can’t manage it. Choose a goal with measurable progress so that you can see progress happening. How will you know when you reach your goal? By being specific! “I will have my first house under contract by the end of January” shows the specific target and measurement. “I will make good investments” is not measurable. You want to check your first sandwich lease option off your list before the end of January!

Attainable. When you identify goals that are most important to you, you begin figuring out ways you can make them come true. You develop the attitudes, abilities, skills, and financial capacity to reach them. You begin seeing previously overlooked opportunities to bring yourself closer to the achievement of your goals.

Success breeds success by keeping you motivated.

Realistic. This is not a synonym for “easy.” In this case, realistic means “do-able.” It means the learning curve is not a steep vertical slope; that the skills needed to do the work are available and that the project fits within your overall strategy and goals. A realistic project has the resources available to increase your skills and your knowledge to bolster your confidence.

Timely. Set a clear time frame for the goal: for next week, the end of January, and for the end of 2021. Putting an endpoint on your goal gives you a clear target to work towards. If you don’t set a time, the commitment is too vague. It tends not to happen because you feel you can start at any time. Without a time limit, there’s no urgency to start taking action now. Time must be measurable, attainable, and realistic.

You will benefit financially in 2021 with goals based on the SMART method.

What You Do Today Will Determine Your Success in 2021

You know what to do. Start reading the first book about sandwich lease options. Take notes to build your SMART Plan. Create a timeline to put in at least 10 hours every week. Only check off each week’s 10-hour goal after you actually complete the work.

After you finish the first book, begin setting your goals for 2021. This will be a draft but spend 2 hours working on your goals. Goals are really essential to what you personally want to accomplish. Your action plan gives you a tremendous start on accomplishing the tasks themselves. Your short-term goals need to be ‘to-do’ items on your calendar to make them concrete. Goal #1 – read the book the first week.

Get an accountability partner. Find a friend in your local REIA group –or a friend who is committed to goals also. They might be in a different field but if they are willing to commit to meeting monthly and will hold you accountable to your goals and you to theirs, do it. Set it up, be religious about it, and meet with them monthly to discuss where you are on your goals. 2021 is going to be a great year for you!

It’s Up to You to Take Action On Your 2021 Action Plan NOW!!

By Wendy Patton

For more than 30 years, I’ve used the Sandwich Lease Option System to earn myself and my students millions of dollars. From my experience, I know there is plenty of room and opportunity in the real estate investment market for everyone wanting to participate to find profitable deals. It’s because of that fact and my personal success that I share the Sandwich Lease Option System with others.

If you found this information useful, please visit again soon at wendypatton.com.

For more exclusive content, please subscribe to my RSS Feed and YouTube Channel.

What did you think of this article? Please leave a comment below.

Buying Real Estate with Lease Options

Rockefeller’s business strategy is exactly the same strategy you want to use when buying real estate with lease options!

When you seek control rather than ownership, you become a lot less concerned with the purchase price.

Your Unique Position When Buying Real Estate with Lease Options

You become much more interested in the “terms” of the lease. You still need to be conscious of the price (but less so). More of your attention is on terms such as the initial cost of the lease option (option fee), how long you’ll have control, and your monthly cost (rent) to maintain control.

Because you are less concerned with the purchase price, you can profit nicely from houses costing very near the full retail value. This vastly opens you to the larger market that isn’t available to most investors who are all chasing a few highly discounted distressed sales.

When buying real estate with lease options, the meat is in the middle. You are that meat in the middle. The seller and the end buyer are the bread and butter. Having bread, butter, and meat in the game makes it a win/win/win for all three.

Building rapport with the seller is key to making a deal.

Learn What the Seller Wants From the Deal

Here is a basic deal directly out of my files that any investor can easily put together. Of course, the numbers will vary depending on your specific location and situation but the basic deal looks like this. I ran an advertisement looking for a home in a decent neighborhood. The advert read:

Company looking for 3 – 4 homes in the [name neighborhood] area for a long-term lease. Call 222-333-4444.

A homeowner answered the advert. Her Realtor® listing had expired without an offer for her asking price of $189,000. Several other sellers answered my advert but Barb was the most promising because she had an interest in selling as well as being open to a long-term lease. It only took a short conversation to determine that her definition of a “win” was completing the sale at nothing less than $185,000.

Look at all of the sale terms to put the deal in your “win” column.

Clearly, this was very close to the full market value of the house. That meant I had to look at other terms of the sale to put the deal in my “win” column. Most other investors would have instantly walked away because there wasn’t any meat on the bone for them. But when buying real estate with lease options you have much more flexibility to earn a handsome profit.

Letting Barb do most of the talking, I also learned that she had physical ailments preventing her from doing the upkeep and repairs on her own home. For her next home, she wanted a tenant/landlord relationship that required the landlord to maintain the property. She had found a home on a lake that she could get into for $1,000 cash. That is all the cash she needed from the deal to lease the house she wanted to live in. Completely making her happy required that I assume all maintenance for the house I would lease from her.

Learn how much cash the seller really needs from the deal.

Next, I determined that it would cost me another $3,000 to replace the carpet and paint the interior of the house. This would attract a quality tenant with the near term ability to purchase the home. I would be in the home for $4,000 ($1,000 to the seller and $3,000 in repairs). Of course, Barb was very pleased that I would immediately spruce up the house (happy seller). I would have control for about 2% percent of the $185,000 purchase price (win-win).

I needed to look at the rest of the scenario and possible terms of the deal. Annual appreciation was expected to be between 6% and 7%. That meant I could expect the value to increase more than $11,000 in the first year. That more than covered my initial $4,000 cost. Now, I knew I had at least a win/win deal but I needed to bring in a tenant/buyer to complete the win/win/win formula.

How Buying Real Estate on Lease Options Becomes Win-Win-Win.

Finalizing the Profitable Terms

After buying real estate on lease options, finding high-quality tenants is a breeze. The same day that I signed terms with Barb, I ran another advert looking for a tenant. Alexa was one of the first people to respond to the ad. She was interested because the ad didn’t specify no pets and she needed a place with a yard that allowed her two dogs. Allowing pets is often the key to finding tenants willing to put down a big deposit. When they have enough for a deposit, you turn that into their nonrefundable option fee (instead of a refundable deposit).

Alexa had $10,000 saved towards purchasing a home. But she still had a little work to do on her poor credit and mortgage brokers weren’t yet ready to talk seriously with her. By me accepting the $10,000 as a purchase option fee, Alexa was able to get into a home with her dogs and be on the road to purchasing a home.

This created the final piece for the win/win/win formula.

As soon as the deal was in place, I walked away with $6,000 in my pocket. Here’s how my numbers worked out:

Option fee to seller (Barb)                                 -$1,000

Improvements                                                   -$3,000

Option fee from tenant/buyer (Alexa)             +$10,000

Left in my pocket                                               +$6,000

I also shifted the maintenance requirements to Alexa. Going forward, I had to pay Barb $1,100 a month in rent but I was collecting $1,450 from Alexa. That left $350 in my pocket each month until Alexa exercised her purchase option.

Alexa’s purchase option price was $225,000 with an escalation clause of 6% (appreciation) if she didn’t complete the purchase within 18 months. After accounting for my upfront costs, positive rent cash, selling price, and related transaction costs, I cleared $43,300 from the entire deal. All by controlling the property without owning it!

In the end, the seller got her full asking price (win), I made a very respectable profit (win), and the buyer owned a home with equity (win).

Buying real estate with lease options begins HERE:

  1. Investing In Real Estate with Lease Options.
  2. Advanced strategies for Buying and Selling with Lease Options.
  3. Your Wealth Building Arsenal.
  4. Add Personalized Coaching.
  5. Cooperative Lease Options.
  6. Expand to Get the Deed “Subject To.”
  7. Round it all out by Working with Realtors.

By Wendy Patton

For more than 30 years, I’ve used the Sandwich Lease Option System to earn myself and my students millions of dollars. From my experience, I know there is plenty of room and opportunity in the real estate investment market for everyone wanting to participate to find profitable deals. It’s because of that fact and my personal success that I share the Sandwich Lease Option System with others.

If you found this information useful, please visit again soon at wendypatton.com.

For more exclusive content, please subscribe to my RSS Feed and YouTube Channel.

What did you think of this article? Please leave a comment below.

Lease Option Forms and Contracts for the Excited Tenant-Buyer

One of the biggest pleasures in this profession is working with tenant-buyers to get them into the home that they will soon own! These people are excited! These people are motivated!

Have all the forms ready to go and printed. Have the tenant-buyer sign as soon as possible. Signing at the time they give you the deposit is ideal.

The Seller’s Lease Option Forms and Contracts are in Order

More often than you might think, you will have an excited tenant-buyer before you have all of your lease option forms and contracts completed with the seller. That’s how excited tenant-buyers can be. It can be done but it’s uncommon to have a tenant-buyer move in before you have all the paperwork in order with the seller. Some of the key steps you want to have completed with the seller are reviewing the title paperwork, being sure the taxes and mortgage are current, and of course, have your lease with an option to purchase paperwork signed by the seller.

When working with the tenant-buyer, always remember that you are the landlord to them and that you are also the seller to the tenant-buyer. You must perform like a professional by having all of the tenant-buyer’s lease option forms and contracts in order.

The forms we provide specifically favor your end of the deal as the seller.

The Selling On an Option Check List is Your Friend

The course material comes with two crucial checklists. First is the checklist that guides you through the process of working with the seller. But here, we are dealing with the checklist that guides you through the lease option forms and contracts with the tenant-buyer. Because you are the seller to the tenant-buyer, the checklist is labeled as “Selling On an Option.”

The tenant-buyer process begins when you advertise that the house is available on a rent to own basis. Prospective tenant-buyers will call you. In a short time, you will build a list of buyers that you can call at any time (without even needing to advertise).

The tenant-buyer process really gets rolling with the application. You’ll collect the application fee at the same time that you give them the application to fill out. Because this is a non-refundable application fee, be sure they understand that the application must be completely filled out. It contains most of the information you need to qualify them for the lease option. This is not a standard rental application. More information is required and it’s a good idea to let them know you’ll be verifying what they provide to you. It’s also important that information be provided for every applicant over the age of eighteen that will be living in the house (not just the ones that will apply for a mortgage).

The checklist is very easy to follow because it’s sequenced in the order that the lease option forms and contracts need to be completed and processed.

The more information you gather on the application, the better off you will be if you ever need it. Other details in the course remind you to be proactive by doing things like making copies of driver licenses and bank checks for the tenant-buyers. Some of the information you collect on the application isn’t necessarily needed to qualify the tenant-buyer, but if you ever do have a problem with a tenant and need to later collect from them, you will want complete information on the application.

As the professional in the deal, it’s important to keep in mind that not all of the applicants are going to qualify for the lease option purchase you offer. The applicants know they are at least a little shy of being able to qualify for a mortgage. Unfortunately, you will need to reject some of the applications. There is a rejection letter provided that thoroughly covers rejected lease option forms and contracts. The fill-in-the-blank rejection letter begins with “We regret that we are unable to help with your housing needs” and is legally based on the Fair Credit Reporting Act, 15 U.S.C. Section 1681, et seq., as amended by the Consumer Credit Reporting Reform Act of 1996  (Public Law 104-208, the Omnibus Consolidation Appropriations Act for the Fiscal Year 1997, Title 11, Subtitle D, Chapter 1).

But hey, let’s get back to the most enjoyable part of the process…

Next Steps After the Happy Tenant-Buyer’s Application is Accepted

Even if the happy tenant-buyer can’t move into the house immediately, one of the first things you do after approving their application is to collect the non-refundable deposit. This deposit is separate from the option fee but is later applied towards their option. The non-refundable deposit holds the property and shows their intent to rent it. If they don’t later sign their contracts or move in, they would lose this deposit. When they do move in, you need to go through the check-in/out list and video the home in the “move-in condition.”

At this point, other important lease option forms and contracts may still be in the proposal or negotiation version. Before the tenant moves in, you want all of these to become a complete set of formal and signed lease option forms and contracts. At a minimum, this includes the rental agreement, option agreement, and sales agreement. As a professional, I’m persistent about making sure tenant-buyers understand exactly what they are signing and committing to.

They are signing up to buy a home and for many of them, it will be the first home they have ever owned. 

You and the tenant-buyer are almost at the end of this happy trail. The checklist is designed to help you remember to take care of a few other legal requirements involving lease option forms and contracts. This includes providing the tenant-buyer with forms like the seller’s lead-based paint disclosure and the seller’s disclosure about any known defects in the home. You need to disclose everything you know, but because you’ve never lived in the house, you rely heavily on what the seller has disclosed. Don’t get hung up about having to disclose everything because every house sale requires this. Disclosing what you and the seller know is not what can get you in trouble. Not disclosing what is known is what causes problems. For instance, the basement might have leaked several years ago but it was fixed and no longer leaks. Not disclosing that can get you in trouble and possibly require that you or the seller have it repaired if it starts leaking again… your best move is disclosing everything.

Don’t forget to wrap up the small stuff. Some of this requires a few more lease option forms and contracts. One of the more important items is verifying the tenant-buyer has taken out renter’s insurance. You also want to confirm that any advertising you were running has been canceled and that utilities to the house have been turned on. One more thing is making sure that a tenant-signed copy of the check-in/out list has been returned to you. Nothing big here. Just make sure all of the “i’s” are dotted and the “t’s” are crossed so that everyone in the deal is happy and it’s a win-win-win come true for all!

It’s always about making lease option forms and contracts as easy as pie!

Every lease option form and contract that you need is ready and waiting for you to TAKE ACTION…

  1. Investing In Real Estate With Lease Options.
  2. Advanced strategies for Buying and Selling with Lease Options.
  3. Your Wealth Building Arsenal.
  4. Add Personalized Coaching.
  5. Cooperative Lease Options.
  6. Expand to Get the Deed “Subject To.”
  7. Round it all out by Working with Realtors.

By Wendy Patton

For more than 30 years, I’ve used the Sandwich Lease Option System to earn myself and my students millions of dollars. From my experience, I know there is plenty of room and opportunity in the real estate investment market for everyone wanting to participate to find profitable deals. It’s because of that fact and my personal success that I share the Sandwich Lease Option System with others.

If you found this information useful, please visit again soon at wendypatton.com.

For more exclusive content, please subscribe to my RSS Feed and YouTube Channel.

What did you think of this article? Please leave a comment below.

Subject To Deals (aka Get the Deed) Can Be the Right Strategy

I think you’re going to love “Subject To” deals (aka Get the Deed). Imagine if you could buy a property and bank some money as soon as the deal is done. That doesn’t happen all of the time but it does happen. Get the Deed has so many tremendous possibilities that it’s another “must-have” tool that belongs in your creative financing toolbox.

Subject To deals are about buying a property and keeping the existing mortgage in place. There are big benefits to doing this.

Sandwich lease options are certainly a powerful investment method for little or no cash and without taking ownership. Still, the Subject To deals, aka, Get the Deed method is another potent way to acquire property for little or no cash and no credit. With the very real possibility that the number of foreclosures will be increasing soon, now is the time to learn the nuts and bolts for getting the deed subject to existing financing.

As an ethical real estate investor (and problem solver), you come into these deals as a “Knight in Shining Armor!”

Ethically Investing with Subject To Deals (aka Get the Deed)

Does it sound strange to be taking over a property for no money and no credit by keeping the existing financing in place? Your first thought might be that I’m encouraging you to rob or scam people out of their hard-earned home. But I’m not. The fact is that you will be helping people out of very difficult situations at a time in life when they need help the most.

Stop for a moment to think about the reality of a mortgage going bad (a looming foreclosure). Obviously, the person is in dire financial straits and doesn’t have many options available. If they have a few months, and if the house is in good shape, if they have enough equity to pay a realtor’s commission, and if the local real estate market is humming along, they could list the house for sale to get out from under the mortgage before foreclosure. There are four “IFs” in the previous sentence. It only takes one of those “ifs” to not come true for the owner to be out of other options. When the options are gone is when an investor offering a Subject To deal becomes the Knight in Shining Armor. Here is why…

If the seller wants to buy another home in six months, next year, or in three years, they will need a good credit score and can’t have a foreclosure or bankruptcy on their record.

Subject To deals… aka Get the Deed Subject to Existing Financing is how the owner avoids destroying their credit rating for the next seven to ten years. It takes seven years to remove derogatory events from a credit report and foreclosure or bankruptcy stays with them for ten years.

Here are some of the reasons an owner might desperately need what you are offering…

Many Reasons Why a Seller Wants a Subject To Deal

If you are financially savvy and budget-conscious, you may not realize how many different ways people get into a financial jamb that they need to get out of quickly. But we all know that bad financial times fall even on good people. Here are some of the many situations where you can step in to rescue someone from bad circumstances.

The broadest category is whenever an owner has fallen behind on the payments and will never catch up before the bank demands full payment. It could be that a spouse has kind of gone crazy with a long spending spree and all of their money is gone. This gets even more desperate for the owner(s) when a divorce is looming and neither spouse even wants the house anymore. Both just want a fresh beginning. Both agree that Subject To Existing Financing is the best solution!

Subject To deals work almost any time the owner is financially strapped.

It can be any financially strapped owner. We all know that millions of people have lost their jobs and recent reports are that most of those jobs are not coming back. People have medical bills without insurance. Business owners are struggling to keep their business doors open and decide that an income is a bigger financial priority rather than staying current with a house mortgage. Or it could be something as simple as the owner took on a bigger mortgage (or second mortgage) than they can financially handle.

A seldom thought about reason is that the owner already has damaged credit and when you take over making the mortgage payments (while keeping it in their name), it helps rebuild the previous owner’s credit report using your on-time payments (knight in shining armor). When it comes to money, there is no limit to the number of ways that people can get into very bad situations. Many are situations that are best solved with a Subject To deal!

Reasons Why Subject To Deals Work for You

This is another long list that I can only partially cover here but is covered in detail in the Subject To deals, aka, Get the Deed course materials. Let’s start with “Subject To” as the fastest way you can build a portfolio of income-producing properties. Because you are not applying for or taking out loans in your name, there is no limit to the number of properties that you can have under your control.

You never have to qualify for a mortgage so you can control as many houses as you want.

How much higher can your return on investment (ROI) get than when you don’t have any money in the deal? If you truly have no money in the deal, your ROI becomes unlimited.

As the knight in shining armor who brings a Subject To deal, aka, Get the Deed deal to the table, the owner is helped and will thank you. There are situations when the owner is so thankful that they will leave money in the deal so that you have instant equity, walk away with cash in your pocket, or both. This is one of the best ways to build wealth at break-neck speed.

No income, no credit checks, and no mortgage qualifying required!

You’ve read the blogs, you know others are doing it, and it’s time for you to take action NOW:

  1. Investing In Real Estate with Lease Options.
  2. Advanced strategies for Buying and Selling with Lease Options.
  3. Your Wealth Building Arsenal.
  4. Add Personalized Coaching.
  5. Cooperative Lease Options.
  6. Expand to Get the Deed “Subject To.”
  7. Round it all out by Working with Realtors.

Happy Investing!

Wendy Patton

For more than 30 years, I’ve used the Sandwich Lease Option System to earn myself and my students millions of dollars. From my experience, I know there is plenty of room and opportunity in the real estate investment market for everyone wanting to participate to find profitable deals. It’s because of that fact and my personal success that I share the Sandwich Lease Option System with others.

If you found this information useful, please visit again soon at wendypatton.com.

For more exclusive content, please subscribe to my RSS Feed and YouTube Channel.

What did you think of this article? Please leave a comment below.

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