Lease Option Contract - Sandwich Lease - What is a Lease Option - Part 4

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Kris Krohn

Kris Krohn

Күн бұрын

Пікірлер: 441
@srslyitsdaniel
@srslyitsdaniel 6 жыл бұрын
I’m only 16 and I’m about to explain all of this to my parents. If I actually got and wrote everything down right it’s going to help my family a lot. Thank you for sharing this strategy with us.
@t.rajoon8
@t.rajoon8 3 жыл бұрын
How's the journey been bro
@17hndrx
@17hndrx 3 жыл бұрын
how’d it go?
@edwinsandborg
@edwinsandborg 3 жыл бұрын
So, what happened since then?
@adriandegard4861
@adriandegard4861 2 жыл бұрын
have you started yet?
@krafyyy
@krafyyy 2 жыл бұрын
update?
@s.jolsen9560
@s.jolsen9560 6 жыл бұрын
They are "legal" in the sense that, done properly, no laws are violated. However, many of these schemes involve ignoring the contract rights of the owner, and are therefore very risky. You will require the services of an attorney for the transactions to be done properly, and without exposing you to legal action. -J. Robert Thompson Attorney
@hreindustries
@hreindustries 5 жыл бұрын
he mentioned that in the last video.
@markgardner3108
@markgardner3108 4 жыл бұрын
Mr. Thompson, where are you located? I may need your services.
@s.jolsen9560
@s.jolsen9560 4 жыл бұрын
@@markgardner3108 I don't know. You'd have to look the guy up.
@markgardner3108
@markgardner3108 4 жыл бұрын
There are multiple cites with name as an attorney, and and that's why is asked. Where did you get the quote?
@ishanp2514
@ishanp2514 6 жыл бұрын
Your videos really really inspire me and I am 20 year old guy and I already have 2 homes in the last 6 months making me $900 per month and I am not stopping.. Thank you so much..
@houstonrobinson8126
@houstonrobinson8126 6 жыл бұрын
Ishan Purnapatre how am I supposed to acquire a house to do this method with in the first place I’m confused I have no credit?
@yulitabcn
@yulitabcn 5 жыл бұрын
Hello Kris, Lease option is the best way I have ever did with the real estate!!! Thank you soooo much!!! You with your videos and this knowledge gave me power!! I love Lease option and now I only concentrate on doing it!!!
@michaelcombrink8165
@michaelcombrink8165 5 жыл бұрын
What if they move in wreck it and leave? Do you protect the house, eg, require, insurance, repairs, cleaning maintenance checks, inspections, pay property taxes, etc
@jetsondaniels8924
@jetsondaniels8924 3 жыл бұрын
Your contract should cover that they would pay for any damages they cause 👍🏿😁
@georgedonaire1433
@georgedonaire1433 6 жыл бұрын
I can tell you have passion for this ! Great job definitely motivated me 💪🏻👏🏼
@iCherrryyt
@iCherrryyt 5 жыл бұрын
I took notes and hoping to have a career in in real estate 17 years young. Thank you for helping me understand the bigger picture 👍
@kysevader
@kysevader 5 жыл бұрын
Me tooooo😍
@carolboodram2646
@carolboodram2646 4 жыл бұрын
me too hopefully i’ll start within the next couple months !!
@adriandegard4861
@adriandegard4861 2 жыл бұрын
how's the journey?
@seanvanhorn8848
@seanvanhorn8848 5 жыл бұрын
Thank you for changing my views on life my wife and I are starting and you made it a dream we made it a reality!
@juanzamano158
@juanzamano158 4 жыл бұрын
So how’d it go it’s been 8 months
@mohamedidris5020
@mohamedidris5020 6 жыл бұрын
I really have to say your videos are very inspirational and motivational. Your a great teacher and hope to see more videos from you in the future.
@UltimateBargains
@UltimateBargains 7 жыл бұрын
You didn't explain how you can sign a legally binding contract to sell someone else's real property that you have no equitable interest. According to the US Bankruptcy Court, an unexercised Option Contract does *not* convey equitable interest in the asset.
@MicmanInTexas
@MicmanInTexas 7 жыл бұрын
From what i understand (not 100% sure) is that you can exercise your option to buy at any time, so if you have someone exercise their option to buy, you exercise yours and then everyone is legally bound to sell/buy the 3 go to make closing statements.
@UltimateBargains
@UltimateBargains 7 жыл бұрын
You are not legally bound to exercise your option. However, you can resolve the issue by granting to your tenant-buyer an "option to buy your option". Also, not fixing the terms and price (leaving it undetermined until a future appraisal) in your option with the tenant-buyer is not an option at all, but only a first right of refusal. It's fraudulent crap like that that compelled the Texas legislature to essentially outlaw lease-options.
@Honorbound43
@Honorbound43 6 жыл бұрын
Chris can you answer this? Because this seems like a huge point
@causeXeffect23
@causeXeffect23 6 жыл бұрын
Hmm interesting I’d love to hear their answer...been 5 months and I’ve seen this guy bring up two great point these two in the video never address.
@cliffordandrews1700
@cliffordandrews1700 6 жыл бұрын
Im just trying to understand a comment you made "It's fraudulent crap like that that compelled the Texas legislature to essentially outlaw lease-options." So is it ESSENTIALLY illegal, meaning its not actually illegal... Or it is illegal in TX? It is one or the other.
@chrisdorsey5453
@chrisdorsey5453 5 жыл бұрын
What if you have to evict the person you lease to and you don’t own the home yet. How would that work?? Would you have to involve the original owner?
@oliviawales2
@oliviawales2 3 жыл бұрын
That is what I am questioning.
@edwardcastillo8414
@edwardcastillo8414 3 жыл бұрын
It should be part of the contract if I’m not mistaken
@mikeheimer537
@mikeheimer537 3 жыл бұрын
You aren’t the owner, but you would have an equitable interest in the property. Not sure if that would be sufficient in an eviction process.
@rileyspowersports6967
@rileyspowersports6967 3 жыл бұрын
When doing a sandwich lease do you need to disclose to the first homeowner that you will be renting the property out too, or do you rent it as if you’ll be living it in it and then lease it out. I see how a lot of homeowners would not like someone else than the person they met living in the home
@bluelv702
@bluelv702 5 жыл бұрын
I'll be now of those to come back to both of you to say thank you. I am up for this!
@sarareanna
@sarareanna 7 жыл бұрын
The word retirement keeps popping up, but you’re still working, teaching people how to make money for you. Maybe you didn’t retire, but you found the career that makes you passionate.
@KrisKrohn
@KrisKrohn 7 жыл бұрын
I retired from trading time for money.
@rileyspowersports6967
@rileyspowersports6967 3 жыл бұрын
Retired means your done with the rat race
@XffTheGrid411
@XffTheGrid411 3 жыл бұрын
@@rileyspowersports6967 Yeah it's called RATired! 😁
@sikskillz2186
@sikskillz2186 3 жыл бұрын
cool. i think this was really str8 forward. i’m gonna do some research in my area.
@robertb9838
@robertb9838 5 жыл бұрын
Do you have a video explaining the benefits of lease options for tenet/ buyers
@KevinMaughan
@KevinMaughan 4 жыл бұрын
I’m gonna start this in Utah!
@foureveralone
@foureveralone 7 жыл бұрын
Hey Kris. I have been eating your KZbin videos for so long now. I love all the learning golden nuggets. I would really like to get in contact with you man!! I'm moving to a different country that I can see huge opportunity for real estate and I would love to get you insight into how I should go about. Thanks man!! Your content is outstanding, wouldn't surprise me if you get the hundreds of thousands of subs in the next few years.
@sherrijones2033
@sherrijones2033 6 жыл бұрын
Thank you for explaining all this in an easy to understand way!
@KrisKrohn
@KrisKrohn 6 жыл бұрын
You're welcome!
@halofan00
@halofan00 5 жыл бұрын
This is great! I was wondering at 6:10 where you say "let the market determine the price but this is the minimum it can sell for". So do you write into the contract with your lessee/buyer that the sale price shall be determined by the appraised value, with a minimum sale price of ___"?
@epicgamer496
@epicgamer496 2 жыл бұрын
wondering what a contract is pls explain
@LeonTiry
@LeonTiry 6 жыл бұрын
All I have to say is, KRIS, thank you!!! I'm going to the top!!! Watch!!!
@babyruth5165
@babyruth5165 7 жыл бұрын
Love the Idea, It happens to me before but in a different way. thanks for the knowledge.
@KrisKrohn
@KrisKrohn 7 жыл бұрын
You're welcome. Thanks for sharing.
@scottdybas7862
@scottdybas7862 5 жыл бұрын
These guys are very bright and seem to have a nice system going where they live. It’s too much of a gamble with these California home prices. Can’t find a shed for less than half a million anymore lol.
@RussFedorov
@RussFedorov 6 жыл бұрын
i love hearing about what deals you guys are currently involved in and ones that you have done in the past. Can you guys make more videos explaining those deals and your past deals?
@kain4124
@kain4124 5 жыл бұрын
For people asking questions about renting the property while you have the rent contract with the original owner, it’s easier to try to save up for mortgage and down payment (since you’ve been trying to get yr credit score high enough to apply for a mortgage) so later on you won’t have any problems with the actual owner and you could easily sell the property to the family whose been renting it and on top of that, EASILY purchasing another house because you’re already approved for mortgage.
@ascensionmerchandise9367
@ascensionmerchandise9367 6 жыл бұрын
I dont understand one thing. Ok lets say I can find someone for rent 2 own the property on a two year deal while I have it rented for 7 yrs. But what happens if they decide to buy it after those 2 years dont I have to buy the property first myself to sell it ? but how do i get those 150k because i dont think those ppl that i have in rent 2 own will give me 150k without some kind of purchse contract signed, but how can i first sell it to them if i dont own it ??
@heyro2680
@heyro2680 5 жыл бұрын
That’s a great point !
@mikeheimer537
@mikeheimer537 3 жыл бұрын
Not sure, but I believe you would have a double closing, or you would simply assign your option to the tenant at the closing.
@carlosm2154
@carlosm2154 5 жыл бұрын
Bro I just subbed, honestly took notes!, watched a lot of your videos and I’m in Im committed!!, imma try this out I understand, thank you!, I sent in my info
@wwscllccoatingsrestoration8322
@wwscllccoatingsrestoration8322 5 жыл бұрын
Hey Kris just picked up my first deal after watching your videos. I’ll send pics later i am going to do some repairs to make it more appealing. Thank you
@juanzamano158
@juanzamano158 4 жыл бұрын
I wonder lmao it’s been a year
@JeremyWhitehouse
@JeremyWhitehouse 5 жыл бұрын
Love the enthusiasm and information.
@tommywyatt954
@tommywyatt954 6 жыл бұрын
bravo fellas!!! Ive been wholesaling houses for a little while and cant wait to fly with this!!
@hremaddox
@hremaddox 5 жыл бұрын
I must be missing something, but how can you legally offer someone a lease option on a home that you only have a lease on. Likewise, how can you sell a home that you don't yet own?
@roundedges2
@roundedges2 5 жыл бұрын
Heather Estes You have a lease option on it. Neither you NOR the prospective buyer is buying it YET-but you both have the OPTION to-at the time of your choosing. You are just leasing in the meantime, and your prospective buyer is just subleasing in the meantime. The option fee/downpayment (non-refundable is the price to have that option in the future (and is applied discount IF you/they go through with it). Only if/when the prospective buyer chooses to buy do you actually buy-at the price you contracted with original owner, and your buyer at the price they agreed to.
@NextGenGamer777
@NextGenGamer777 6 жыл бұрын
Please can you explain more on how the partnership deal is set up and what it contains? How the split of money goes? Please!
@4onewabbit
@4onewabbit 6 жыл бұрын
Better show people how to check to make sure that the person that you are dealing with is the real homeowner and that the taxes and easements are in order. You should also check the city to make sure that the land in not going into eminent domain.
@cihatecicek
@cihatecicek 5 жыл бұрын
What makes people think they can buy the house in 4-7 years if they don^+t qualify for a loan ? do you post the rent to buy agreement on the deed recorded ? otherwise why does buyer trust you will sell it to them and not some third party ?
@abdurrahman1493
@abdurrahman1493 6 жыл бұрын
how i can i put a house on rent 2 own when i don't actually own it . i am totally confused kris
@WW-qg8yi
@WW-qg8yi 6 жыл бұрын
Same here
@guntodd
@guntodd 6 жыл бұрын
I hope I got it right. In the video Kris is saying you secure a longer rent-2-own from a seller or owner, then you do shorter rent-2-Own to your renter/buyer.
@Honorbound43
@Honorbound43 6 жыл бұрын
Yea I was going ask the same thing. Is this legal? You would definitely have to have a lawyer draw up those papers. Chris I hope you answer this one because I very confused on this issue.
@Eltartaro_2050
@Eltartaro_2050 6 жыл бұрын
It is 100% legal, there are laws that allow you to do that because you are the temporary owner
@superlanguagelearning6589
@superlanguagelearning6589 6 жыл бұрын
What laws? And you aren't the temporary owner. You're still renting it
@raymondtongolei6019
@raymondtongolei6019 7 жыл бұрын
Thank you Kris and Steve that was awesome. I hope to learn and come to Utah to meet you two person next year.
@KrisKrohn
@KrisKrohn 7 жыл бұрын
We look forward to meeting you too!
@emilioreyna5522
@emilioreyna5522 5 жыл бұрын
Great video great motivation 🙏🏼🤙🏼
@rodolfohernandez3759
@rodolfohernandez3759 6 жыл бұрын
This is gold!!! Can you do this deals with houses in Canada/USA/Mexico? I the owner of a marketing agency in Mexico City and I’ve got to say this house stuff is awesome!! I will definitely watch all of your videos and follow every step.
@motowens
@motowens 6 жыл бұрын
What about tax? Or the ira? Is this all just okay without ever claiming anything?
@TommyGunzzz
@TommyGunzzz Жыл бұрын
Wonder if this will still work on 2023 with the current rental market
@petes7271
@petes7271 4 жыл бұрын
Wrap around mortgages work the same way. Can you post a video of both wrap vs sandwich, (sounds like lunch choises) pros and cons, one vs the other
@INFJArtistLounge
@INFJArtistLounge 3 жыл бұрын
Thank you guys!
@Pilottoproperties
@Pilottoproperties 6 жыл бұрын
Mind blowing !!! Seriously thank you!
@ericwalkerwhitelaw8537
@ericwalkerwhitelaw8537 4 жыл бұрын
Question: where doe the 100/200/25 dollars equity they get with every monthly payment? Still a bit confused up to how it works.
@robhemmerle5857
@robhemmerle5857 3 жыл бұрын
You take a portion of their monthly payment and “set it aside” to credit back to them when they buy. In reality you don’t need to set it aside because the increase in house price will cover all the credits you owe them.
@fenders9911
@fenders9911 5 жыл бұрын
great video... how is it possible to sell a house that your leaseing your self you dont own it yet... plz replay ...
@perlo830
@perlo830 6 жыл бұрын
Hey Kris, when you agree to buy the house at $150k from the buyer, with a lease period of lets say 5 years, at the end of which you buy it for $150k, won't the buyer consider the appreciation in the price and want more than $150 at the end of the tenure?
@brueski2249
@brueski2249 3 жыл бұрын
It depends. If they agreed to a set price in the contract then they can't change it. Most lease options don't have a set price. It's determined by an appraisal at the time you choose to buy
@tothetruthandbeyond4510
@tothetruthandbeyond4510 6 жыл бұрын
Hey guys thank you so much for your knowledge. I'm an apprentice diesel fitter about to become a tradesman here in Perth Australia. I've been in the mechanical industry now for over 15 years. But for me personally I'm not happy doing this as a living. (As usual Like most young people I was told what to do with my life and as a job bc in reality, it is really good money). Not to be a negative nelly, but I just cannot stand doing it anymore. I'm currently renting a small 3 bedroom 1 bathroom unit or villa @ $260 a week. Which is extremely cheap for Perth or the area I am in. I am 30 at the moment with a young son. And I've ALWAYS been extremely interested and have a deep passion for real estate ever since I can remember, it just excites me like nothing else. It'd be great if you could reply to this comment and give me some more advice if you guys have any on Perth or even the Australian real estate market and if this could or would work here. I could even give you guys some advice about how the market here works and how it has been in the past. Thanks.
@M3A7
@M3A7 6 жыл бұрын
The principle is the same. There is abundant info on this and many other channels. I hope you have made some more progress! I would love to hear where you are at now.
@MagicToshi
@MagicToshi 6 жыл бұрын
10/10 video . i will be signing up for this hands on help program right after i graduate college !
@KrisKrohn
@KrisKrohn 6 жыл бұрын
We'll be waiting!
@alexreid2393
@alexreid2393 5 жыл бұрын
Toshi Taniguche How’s it going so far. Did you sign up after all?
@blackezi3
@blackezi3 4 жыл бұрын
Can you do a Sandwich Lease Option on a Commercial property?
@mikeheimer537
@mikeheimer537 3 жыл бұрын
You do a master lease with an option.
@drewd3523
@drewd3523 6 жыл бұрын
2 Q's -How is it legal to create a rent-to-own contract on a home that is legally owned by someone else? -How does your leasee with supposedly horrible credit going to magically come up with 180k 2 years down the line in order to buy the home?
@zackpetersen779
@zackpetersen779 2 жыл бұрын
They sometimes don't ans they leave and you get the house and redo the situation
@CanYouRepeatTheQuestion
@CanYouRepeatTheQuestion Жыл бұрын
@@zackpetersen779 that still doesn’t answer the first question
@fajaranuar4333
@fajaranuar4333 6 жыл бұрын
First of all great video. Regarding the sandwich deal, 1. Once I buy a home from homeowner with LO, and THEN resell it again to another owner with another LO, wouldn't that make me sub leasing that homeowners house to another person? What if the homeowner regards me in that case as a broker and wouldnt be happy about it? Thanks!
@KRISTAMUSIC
@KRISTAMUSIC 6 жыл бұрын
a lease option is assignable.
@Jester2b04
@Jester2b04 2 жыл бұрын
@@KRISTAMUSIC yes , this is the answer. Lease option IS in fact Assignable.
@mvaceannie5886
@mvaceannie5886 4 жыл бұрын
Great videos Kris!
@professuhx504
@professuhx504 6 жыл бұрын
Thank you this information is golden!
@yellowsocksification
@yellowsocksification 5 жыл бұрын
So after 2 years your tenants want to buy the house. How would you do that? Do they just pay one more month rent? I'm confused
@andrewcouto5620
@andrewcouto5620 3 жыл бұрын
I think they pay the remaining balance... Unless the contract says it must be over 7 years or whatever
@fiftyslady8945
@fiftyslady8945 5 жыл бұрын
Kris, I love your videos and they are so inspiring. Thanks for doing all that you do! I can't find the answer to this questions anywhere and have been searching and searching, could you shed some light? You say PM companies don't deal with lease options so how do I get a tenant? Am I supposed to fly out each time I hold an open house? Or can I hire someone to do showings/do background checks/deal with evictions? I'm so stuck, any help I would be grateful for.
@sjshorty4097
@sjshorty4097 6 жыл бұрын
I really like the video I just have one question. When the person wants to buy it after the 2 years and their credit is good. How is the bank going to give you the money if you don’t have the title to the house because technically you haven’t purchased it yet so how do you get the money to the guy you are buying it from when the bank won’t give you the money for it (from the person that is buying it from you) because you don’t have the title yet. Or do you have to purchase it and take out a loan on it and then when you get the title have them sign and give you the money
@matthewdolfinger644
@matthewdolfinger644 5 жыл бұрын
Does it become a wholesale play where you are just the middle man and you get the difference?
@mikeheimer537
@mikeheimer537 3 жыл бұрын
Essentially it is what Matthew said. It isn’t wholesale though, but you are a sort of middle man.
@krazeeapeman3775
@krazeeapeman3775 4 жыл бұрын
Would you show us what the actual contracts look like? Or be able to let others use your contracts for the option to buy and the renting contract since you have found what the contracts should say
@lysol316
@lysol316 2 жыл бұрын
First off, great video!!!I have a question about lease with option to buy...... Let's say me and the owner agree to a $5k option down payment,and me and the tenant agreed to a $10K option down payment,I understand that my profit is $5k. But let's say the tenant exercise the option to buy,do I have to put that entire $10k towards the purchase of the property,even though my agreement with the owner is $5k?
@makipriyans3724
@makipriyans3724 6 жыл бұрын
thanks for the great lessons, i wanna ask, how can we make the deal of the house price from the owner is it still the same price (150k) in the 7 years future, or we make the new deal of 7 years later price? thanks
@NoNo-xn5kf
@NoNo-xn5kf 7 жыл бұрын
So if they stop paying rent from financial crisis or whatever, what do I do next? Also, when I get a lease option home from someone, how can I lease it to someone else, can I do that? I have so MANY questions, Im 33 years old married man with two kids and I'm SO ready to get into real estate I'm tired of working the 9 to 5 and I need financial freedom. I just feel like its too late for me
@AleXcsGaming
@AleXcsGaming 6 жыл бұрын
you kinda have to start at 25-26 max but you can still start at 33 if you saved some money
@antionemeshileya
@antionemeshileya 6 жыл бұрын
what are you talking about. there's no limit on age. quit trolling.
@immts6475
@immts6475 6 жыл бұрын
If you are in debt read total money makeover by david ramsey. Really helps, and shows that you don't and shouldn't use a credit card, how to get out of debt, etc.
@johnathanwilliams3345
@johnathanwilliams3345 6 жыл бұрын
That's totally false and could be the very thing that keeps you bound to your 9-5. :-( I'm 47 and just started doing real estate investing a few months ago. Kay, you MUST change your mindset! It's more doable now than it's ever been because of forums like KZbin and the likes. All you need is the hunger and desire to learn and courage to do. My advice would be to read as many books as you can to buld your knowledge base and comfort about the industry in general. There are soooo many ways to invest in real estate. Listen to free podcasts and join other free forums. Become a student and then take action and WIN!! It's never too late!! Good luck!
@derekblades
@derekblades 6 жыл бұрын
If they quit paing rent you send the case to an eviction attorney and they will evict the people in 1-2 months and you keep the non refundable option fee(7$k) then re sell it because you have 7 years in your contract. You need to find an attorney and tell them you need a purchase agreement and an assignable lease option agreement.
@Henrymancio
@Henrymancio 5 жыл бұрын
I'm kind of confused here and I read some comments to understand it a little better so basically your leasing (basically renting to own) and then your leasing it to someone else for higher price? Includes bigger down payment from them and waiting until they're ready to purchase the home and will determine from the market at the time how much your gain is?
@asmr_unleash4563
@asmr_unleash4563 5 жыл бұрын
Thank you so much for this series ! I have a very specific question, I don't know much about real estate and I was wondering if your program and this method can work in Belgium? That's where I live, but I don't know if there would be any legal constrictions (like renting a place your don't own yet for example) ? If anyone from Belgium could has any info it would be great !
@deanpoeki
@deanpoeki 6 жыл бұрын
@Limitless TV hello, I am from the netherlands and I want to know if the program also can be bought and work here. Hope to hear from you Kris, many thanks!
@kimberlydelarosa6968
@kimberlydelarosa6968 3 жыл бұрын
please do a video that you explain all the vocabulary words used in real estate
@SocietyNeedsImprovement
@SocietyNeedsImprovement 3 жыл бұрын
In the case where the occupant buys the house, how do they buy the house without a bank? The verbiage on the signage indicates that a bank isn't needed but I would expect the occupant to need to take out a loan in most cases in order to actually buy the house. I don't get it.
@clashroyalefinesseking114
@clashroyalefinesseking114 7 жыл бұрын
I’m still kinda lost
@KrisKrohn
@KrisKrohn 6 жыл бұрын
Watch this series. I go into a lot more detail. kzbin.info/aero/PLWWMFdKhGQUOl_P9Q9Z6soewajAPdpw9m
@chrisdorsey5453
@chrisdorsey5453 5 жыл бұрын
The question is: what happens with the end buyer wants to buy the house? You’re going to have to buy the house and then sale it the next day. You’ll pay capital gains tax. How the heck do you get around that?
@chickenwang333
@chickenwang333 4 жыл бұрын
1031 exchange
@fastingvegan455
@fastingvegan455 6 жыл бұрын
You guys are so amazing! Thanks for putting it into perspective! Ive know about this but haven't ventured there
@KrisKrohn
@KrisKrohn 6 жыл бұрын
Thank you glad it helped!
@shoki5271
@shoki5271 4 ай бұрын
Excellent
@jasperve18
@jasperve18 6 жыл бұрын
Kris, now that the house market is extremely high, would it still be a good move to do real estate as a beginner?
@ah1114
@ah1114 5 жыл бұрын
Chris it would be nice if you had online courses
@yourbeautybff
@yourbeautybff 6 жыл бұрын
The thing that doesn’t make sense to me is how these people with bad credit etc. are going to qualify for the loan to buy your house at the end of their lease? If they don’t qualify to buy it do you just keep the non-refundable deposit? If they don’t qualify now chances are pretty good they won’t qualify later.
@WW-qg8yi
@WW-qg8yi 6 жыл бұрын
I would also like to hear an answer to that
@gzelambeezy
@gzelambeezy 6 жыл бұрын
yourbeautybff This is where your networking has payed off and you've refered them to a person or company that can help build their credit (maybe you and this company or person even have some sort of agreement where you each refer leads to eachother). If they don't qualify for loans with the bank and don't have enough to exercise their buy option at the end of the contract 》1) yes, you keep the "non-refundable option fee" 2) why not renew their contract if they've been a model tenant? As long as you are acting owner of the property you can continue leasing it. If they are not model tenants u find someone else to replace them or, worst case scenario - u break your L/O with the original owner (at no expense to yourself) using an escape clause that you have written in your contract (i.e. if I don't pay, the L/O is broken). Let's say, over a length of time, you've made enough money in other ventures to exercise YOUR option to buy and now own the home outright. This is where you can become the BANK and offer full owner financing options to buyers, skipping the traditional bank altogether. Why not sit back and collect interest like traditional banks?
@KrisKrohn
@KrisKrohn 6 жыл бұрын
We made a video about that. Here you go: kzbin.info/www/bejne/b3eYkGWIjZ5mfa8
@U_Lambda
@U_Lambda 6 жыл бұрын
Thats the whole point. You keep their deposit and the house doesnt sell. Worst case scenario they actually buy the house
@jasonlucey1313
@jasonlucey1313 6 жыл бұрын
Kris Krohn - Limitless TV f
@gregwhite3883
@gregwhite3883 5 жыл бұрын
Really liked the part where u said check craigslista and started tip go into detail on exactly how to do it. Anyone that could give me more advice in that area i wuld be very thankful?
@holisticheartstudio
@holisticheartstudio 2 жыл бұрын
How do you actually sell it without an agent/closing etc in the end when they’re ready to buy?
@davidnewman9397
@davidnewman9397 6 жыл бұрын
Kris how do you protect your self from a seller if property doesn’t sell in 7 years? or in a situation where even though you been paying the seller each month for let’s just say 2 years but than you sell the property and make a large spread of 60k and now seller notices the listing or see the housing value goes up and now want a bit more money than what was agreed upon in the first RPA/lease option agreement?
@taeturbo6026
@taeturbo6026 5 жыл бұрын
Kris . How exactly can you rent out your home to a renter. Do you have to tell the bank that your gonna charge more in rent or no?
@travishill1692
@travishill1692 7 жыл бұрын
Hi kris. I'm doing my best to understand the content. I really like the idea. Just curious if you own the house if it works as good? Or if you're better off to stay away from that and do a lease option yourself? Thanks so much
@KrisKrohn
@KrisKrohn 7 жыл бұрын
Great question. I just filmed a video that answers this question. Stay tuned for the video with a title something like, "should I pay off my house."
@IFlipYourHouse
@IFlipYourHouse 6 жыл бұрын
Yes...absolutely!
@Richard83116
@Richard83116 6 жыл бұрын
Awesome information guys. I Just want to know how you came up with those number? I want you to do the math step by step slowly so I can see how you come up with those numbers. I want to know is it a certern percentage you do the math with.
@krisabigailpadamada1577
@krisabigailpadamada1577 5 жыл бұрын
I wish I could attend your November unleashing of financial destiny but it’s kind a hard here in the Philippines to have approve visa going to US,I hope your team could also come here un the Philippines kris
@adriannemec8840
@adriannemec8840 5 жыл бұрын
Is this "strategy" or I would rather say channel still up to date? That link doesn´t work, so does he have new webpage or something?
@fatimad6399
@fatimad6399 10 ай бұрын
Thanks so much
@The_Lost_One
@The_Lost_One 4 жыл бұрын
Does the link cover the UK as well?
@ecares2235
@ecares2235 Жыл бұрын
I have a question… how do u get the person to finally buy the house ?
@crusim5439
@crusim5439 6 жыл бұрын
How do you go about finding a mentor for this kinda stuff ?
@Stixblends
@Stixblends Жыл бұрын
my only question is how you get to the point to offer a rent to own on a house that i have a 7 year contract
@benjaminfindon5028
@benjaminfindon5028 2 жыл бұрын
Thanks 🙏
@robertgraves9703
@robertgraves9703 5 жыл бұрын
Does the entire payment of $1,200/month go toward equity on the house for them or just the down payment and $200/month?
@DroppinEggs2
@DroppinEggs2 5 жыл бұрын
Just the 200 a month and down payment
@DroppinEggs2
@DroppinEggs2 5 жыл бұрын
And contract can state only 200 a month for *ON TIME PAYMENTS
@JxnTrader
@JxnTrader 3 жыл бұрын
@@DroppinEggs2 If you're sleazy, yes.... your contracts would probably say this.
@ryanthackeray4576
@ryanthackeray4576 7 жыл бұрын
How do you make the money off the sale of the house if it's not even actually yours if your leasing yourself
@nellakilu9998
@nellakilu9998 Жыл бұрын
How could I apply this in my own country, a different context? I live in Vanuatu, South Pacific
@Lobaczchiropractic
@Lobaczchiropractic 6 жыл бұрын
in the book it talks about going to a website, and allowing you to get the lease's, paperwork, but the link doesn't work.
@weskore
@weskore 5 жыл бұрын
I know how sandwich leasing works but what about all the paper work involved. You're renting to the house but when the people decide to buy it what about all the paperwork involved.
@4onewabbit
@4onewabbit 6 жыл бұрын
Better mention that some banks do not allow sandwich contracts.
@tomyboy697
@tomyboy697 6 жыл бұрын
So I’m looking to purchase a property with $30,000 in equity but the person selling the house says they will not turn on the water for inspection. What should I take from that? It’s also listed as “sold as is.”
@writtenflop495
@writtenflop495 6 жыл бұрын
The strategies seems great, but like what is the risk behind it when you can't pay off the house to the original owner in 7 yrs? plus since you've signed a legal contract with the original owner, what will be the impact to (me) as a renter when I don't finish up that 7yrs agreement? Could I get an answer for this? Thanks for the Video because you guys went straight into answering the questions unlike most people, they would just have a long lecture without giving out the actually answers.
@IFlipYourHouse
@IFlipYourHouse 6 жыл бұрын
Extend the terms with original owner.
@chanitogonzalez1335
@chanitogonzalez1335 6 жыл бұрын
Numbers always looks good on paper, reality is different!!!! But still very confusing
@harlimcfadden2841
@harlimcfadden2841 6 жыл бұрын
hey guys my question would be, I am a real estate agent. But I would like to do stuff like this on the side for myself would this be possible with my career?
@jofrangonzalez2417
@jofrangonzalez2417 6 жыл бұрын
Please, answer this question. How do you offer a house for a rent to own option if you don’t actually own the house? If I am the renter in a rent-to-own option, am I entitled to apply the rent-to-own option on someone else? Thanks!
@zondahyt45
@zondahyt45 6 жыл бұрын
Jofran Gonzalez good question, I would like to know this myself, however I’m pretty sure the investor of the rent-to-own option will maximise the payments etc to the renter in the rent-to-own option which will mean their profits would be minimal if there was any so would most likely put them off doing it themself
@21gjj
@21gjj 5 жыл бұрын
when the tenant buys the home how do I collect the 50k when I never owned the home?
@rozabelperez9928
@rozabelperez9928 3 жыл бұрын
wow thank you
@donniebaer1992
@donniebaer1992 3 жыл бұрын
Hi Chris, No one has ever reached out to me to buy
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