How to Structure Creative Finance Deals | Lease Options!

[@creativeorca]

@ minute 13:40. Could you do a pre-sign Warranty Deed that is held in escrow until the option is exercised? This could possibly facilitated a smooth closing if something happens to the seller.

[@jasonbollman]

Great information! Very helpful! Thank you, Pace!

[@PaceMorby]

My pleasure!

[@brettfelz44]

Great video Pace. Is there a place where I can get or purchase your lease option and sub to contracts with all that specific verbiage? Thanks

[@joselopez2458]

Hey Pace what does a seller usually require from you when you pitch him lease option to do a sandwich lease and he is inclined to do it? Im wondering if because you are offering this sort of contract, the seller doesn't check your credit , income, background check and all the other things like when doing a regular rental lease.

[@thiamc4382]

I’d like to know if you have a video on the benefits of lease option as the buyer and things to watch out for? Buying in the CA market is insane & lease option keeps being presented by the loan officer. Thank you.

[@emanlopez100]

I'm curious to what the contracts look like. Can this be done on one contract?

[@random-bs1gh]

Is it the same as calling it rent to own?

[@therealestake]

Yup, same thing.

[@ReiTentMakers]

For the seller, can they raise the purchase price after 3 years? Or is that locked in?

[@ChristopherHuxtable]

Why would you not just to do a wrap around mortgage?

[@KevinKidwell-v3c]

Does the lender require a minimum amout of payment history in a lease option to remove the debt from the DTI?

[@CarlosMartinez_]

How could you pitch the lease option ? With the sub to clause

[@InsidePNW]

Can you lease to own a business with no real estate?

[@EstatusBestia]

Pace Morby don't I need good credit for a lease option? I've seen lease option owners ask for good credit.

[@HSTL_Team]

Does a lease option have better pros (for a seller) than a seller financing with the right terms? Ex:leasee maintains property and assumes liabilities

[@PaceMorby]

I should do a video on this!

[@jenradich2308]

Soooo... in Hawaii, we have a lot of leasehold LAND with lesses who have mortgages on a home with said land. Like us... we rent said home. The landlords live on property. It's a total of 5 acres. I have several questions... this home needs a total rehab... what/if anything could we offer our landlords? This is a very lucrative area (Kealakekua/Captain Cook)? Would love to hear from a community member in the state who might know specifics on a potential lease option of our home, or if it's even worth considering because the home needs seriois reno. But we love South Kona and our daughter starts FREE pre-k nearby. Without creative finance options, we are priced out of the area within proximity to this super special school.

[@BuckHinds]

love it

I have a question. If I buy a property with sub2, what happens with the taxes of the property next year?

[@mrjuannorris_]

Same thing when you buy a house conventionally. The house is yours, and you’re responsible for payments, so you reap all the same benefits.

@@mrjuannorris_ what I meant is what happens with homestead exemption in case the seller has one on it. Once the deed is updated the homestead disappear?

[@WalnutAveInvestments]

Correct. Property taxes will be updated to non-homestead rates.

@@WalnutAveInvestments thanks. So next year taxes will increase significantly

[@WalnutAveInvestments]

Yep. Not sure what state you’re in, but in Michigan we have a property tax calculator online that lets you figure out non-homestead by county/city/school district.

[@chelseareyna1112]

I need a deal like this so I can have a better place to live. I’m in 900 sq ft and can’t afford to buy a house with my sole income

[@PaceMorby]

What market are you in? Squad up with students local to you in the free FB group paceapproves.com/freefb-ytc

[@MrAhoelzel]

A servicer being involved has NO bearing on underwriting guidelines, at all. All guidelines require that the prior owner is no longer responsible for the debt. Sub2 does not accomplish this.