Worried that you don’t have the upfront cash to buy an investment property? Only a year ago, doubt, confusion, and fear dominated the entire economy, especially the real estate sector. Today, we know that real estate remained robust during the economic crash and more very promising days are right in front of us. Our world is full of stories about investors going from rags to riches with one or two deals. For many needing an economic foot up, the path forward is cooperative lease options.
If you are in a situation of fear or uncertainty, you overcome it by taking action.
Harness the Power of Cooperative Lease Options
Once you have control of a property, receiving the monthly rent is not usually a problem. The biggest hurdle is getting control of the property in the first place. That requires upfront cash. If you don’t have the cash, you might try taking out a loan. Have you tried taking out a bank loan lately? That’s not going to happen unless you already have a pile of money.
As the economy begins prospering again, many of us know that real estate offers the chance of a lifetime … but if you don’t have a no-cash solution, you’ll never get the start you need this time around. Right now, I’m working hand-in-hand to show students how a cooperative lease option is the ideal quick-turn strategy to achieve fantastic results in today’s economic conditions. Others call this wholesaling your option, either way, it’s a powerful strategy to make quick cash without using your own money or credit.
Put an Additional 5-Figures in Your Bank Account Within 29 Days!
What’s great about a cooperative lease option is that it pays you a decent amount of money much faster than a sandwich lease option. A sandwich lease pays you three times but you have to remain in the deal much longer. With the cooperative lease option, you are only paid one time but you are in and out of the deal very, very quickly.
How Crazy Easy the Cooperative Lease Option Really Is
All you are going to do is find a quality house that has an owner wanting to sell for a high price using a lease with an option to purchase. What seller doesn’t want a high price for a home they are already looking to sell? You’re not going after distressed properties. You’re dealing with white-picket-fence houses where Millennials want to start a family. Here are my best scripts for talking to sellers now!
Then you find a buyer that will benefit by being able to become a rent-to-own homeowner. The market has never had more people looking for this method than right now. As the new economy emerges, Millennials are looking for creative solutions to the economic rough times they have faced most of their adult lives. Now they are starting to enter their early 40s. An age when they want the American Dream of homeownership that brings economic security. After entering the job market during the Great Recession, Millennials are finally in the position of getting their student loans under control. Their days of maxing out credit to buy cars, clothes, and hit the clubs are in the rearview mirror. For many, their credit is improving but this is a generation expecting instant gratification. A cooperative lease option puts them in their first home now while they work off the last of any remaining credit issues. And they need that white-picket-fence for the children they are having.
The time could not be better for today’s generation to become homeowners using a cooperative lease option.
Cooperative Lease Options is a ‘Quick Turn’ Strategy
Does several thousand extra dollars in your bank account next month sound like something you could use? Just imagine sending out 33 scripted emails from your home on a Monday morning to potential sellers. By Wednesday, you have 21 replies and begin the screening process for your newest investment properties. Now that you have found sellers, all you need is a way to put the transaction together.
- Advertise the home to prospective tenant-buyers of the home.
- Take phone calls on the home from tenant-buyers and screen for qualifications.
- Show the home to the most qualified. (But the seller often does this with cooperative lease options.)
- Take the rental application, run the credit report, criminal background check, check the employment history, landlord references, and report back to the seller with all of the information.
- Do the paperwork on the lease with option to purchase for the tenant-buyer selected by the seller.
- Assist the tenant-buyer in signing up for a credit repair program at the tenant-buyer’s expense.
- Assist the tenant-buyer in working with a lender that can assist them in being approved for a mortgage as quickly as possible.
The tenant-buyer will be renting with ‘the option to buy’ the home and will be responsible for the option agreement and sales contract with the seller. You are not acting as a real estate agent in this transaction but are ‘assigning’ the agreements that will be signed between the buyer and the seller.
Legally Buy and Sell Property Without Ever Taking Ownership!
Nothing comes out of your pocket but you do come away with the option fee that you earn by putting the deal together using the template forms and contracts from the course. There probably isn’t an easier legal way to make a 5-figure deposit into your bank account in 29 Days.
Doing Cooperative Lease Options Correctly
The right paperwork makes the entire purchase process easy to complete 18 or 24 months after the cooperative lease option was first signed. You need to have the mortgage application and closing processes in mind when you originally create the paper trail. The option fee will be well seasoned and the source of the funds will be clear to the lender when the funds are first entered into an escrow account at the beginning of the transaction. Remember, this is creative real estate investing, being able to follow the money is critical.
You are going to be paid quickly even when you place the money in escrow. The lease option fee is non-refundable. Although it’s deposited into an escrow account, as soon as all of the initial paperwork is signed, the money can be distributed. With a cooperative lease option, you are paid as soon as the deal is in place and the paperwork is signed. How fast will you be paid?
It’s possible to sign the paperwork and deposit the money into escrow in the morning and for you to have your money the same afternoon.
- Cooperative Lease Options.
- Investing In Real Estate with Lease Options.
- Advanced strategies for Buying and Selling with Lease Options.
- Your Wealth Building Arsenal.
- Add Personalized Coaching.
- Expand to Get the Deed “Subject To.”
- 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.
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