Unlocking Lease Option Success: 10 Mastery Steps Revealed!

[@CharlieL.GrayIIREICREIBF-vu6my]

❤ Please continue your old school intuitions, I am a bit old school myself. I truly appreciate the quality of your offerings. Yes l am going forward back to school, re-tooling, refreshing, Thank You, Respectfully. 😅

[@ChrisGoff]

You are so welcome

[@9to5killaCartel]

I wish there were videos that deep dive more into how to use the platform to actually find leads. Do we got expired listings on the platform?

[@ChrisGoff]

Check out our new KZbin channel and watch the lead generation playlist, where we dive into finding different types of leads: www.youtube.com/@reiprosoftware

[@erickchavarria2024]

Thanks for posting this Chris. What's and example of the closing costs that you would incur? Would a double closing be necessary in this example since you'd be receiving over 15k at settlement or would you simple close it as an assignment of contract?

[@ChrisGoff]

Closing costs vary from county to county, so hard to put a number on this. I would do a double close in almost every case regardless of profit. You obviously need to make sure you have enough profit for it to make sense though. If not, you can assign the contract but it’s a tricky when a buyer is getting financing.

[@pragmaticliving9420]

Thank you for the video Chris! Would you ever consider doing a live example of you looking for properties, recording speaking to the owners, running the comps, seeing how the owner replies with what's important to them etc.

[@ChrisGoff]

Possibly! The reason we don't do this is that you stand a chance of not getting a deal done when the seller knows you are recording them. It doesn't make a good first impression. TV shows are okay because they get permission.

[@pragmaticliving9420]

@ChrisGoff I understand, thank you. 🙏

[@jovontaehill9550]

Is it possible to do the same strategy with seller finance from the home owner and lease option to the end buyer?

[@ChrisGoff]

Yes, you can seller finance the property from the seller and lease option it to the end buyer. Thanks for the questions

[@Hawaiirealestatetips]

As a licensed realtor I did get permission from my broker to purchase creatively but they said I can’t wholesale it. I wonder if selling to a lease-purchase buyer will be ok. I really hope so because I’d love to do this

[@ChrisGoff]

It sounds as though your broker doesn't like the assigning part because you are licensed. You can always run it through your own LLC with a partner that's not licensed. Hope this helps!

[@hughhill9402]

How would you work this strategy as licensed agent?

[@ChrisGoff]

The same way you would as an investor... plus adding a disclosure that you are a licensed agent.

[@Alch8Fi153]

How would this apply for structuring deals virtually & working with more premier agents/brokers in a type of “collaborative leveraged mastermind” approach-to get more deals done, as efficiently & effectively as possible, especially when working in “ultra luxury” markets with sophisticatedly elite buyers & sellers?

[@ChrisGoff]

The same way I would work it in any market, group, or otherwise.

[@Alch8Fi153]

@@ChrisGoff Sincerely appreciate the reply! Though you mentioned "not working with agents" and meeting the owner/seller in person to "build trust"... How does "The same way I would work it in any market, group, or otherwise..." specifically apply to the abovementioned?

[@joandonnelly8595]

Good video

[@ChrisGoff]

Glad you enjoyed

[@demontreten]

How does the seller build equity every month?

[@ChrisGoff]

If they have a mortgage, they are receiving monthly rent payments which pay down the mortgage.

[@demontreten]

@@ChrisGoff okay. Is it best to have an attorney for the payment transaction?

[@gettingbettereachday9607]

Has anyone ever purchased a property on seller carryback and then exited or sold via lease option? 3 year option with 7-10 year balloon to payoff earlier ideal?

[@ChrisGoff]

This is very common, but be sure that payments to the owner are low enough so you can cash flow with your lease option buyer.

[@gettingbettereachday9607]

@ChrisGoff what's your exact buy box? I'm in southcentral,PA. Looking at 4bd 2b in good school district. Little reno but more so move in ready.

[@joandonnelly8595]

Isn't Texas a one year Lease Option state?

[@ChrisGoff]

180 days the last time I checked. You can always Google it, but Seller Financing would be a better strategy in Texas.