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How to Lease Option Real Estate without Money or Credit Part 2 of 3

How to Lease Option Real Estate without Money or Credit Part 2 of 3

Learn How to Control Real Estate with Little to No Money Down or Credit with this 3-Part Series.

Register for Part 3 on Thursday September 7th:

Lease Options is “simple, lucrative and fun” when you know the secrets to how to do it right! It’s one of the quickest ways to make money in today’s Real Estate Market while helping a lot of folks, too.

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Ryan Hillestad

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46 thoughts on “How to Lease Option Real Estate without Money or Credit Part 2 of 3”

  • Shirley Farrington

    August 30, 2017 at 4:25 pm

    I missed part one, would you please send that one to me? Thx’s

  • Hector Rodriquez

    August 30, 2017 at 5:45 pm

    Is this Dodd – Frank compliant?

    • Chris Goff

      August 30, 2017 at 6:33 pm

      Dodd Frank applies to seller financing.

    • Hector Rodriquez

      August 30, 2017 at 6:54 pm

      Ok thanks for the information and great videos

    • Chris Goff

      August 30, 2017 at 7:00 pm

      Thanks Hector!

  • james isaacs

    August 30, 2017 at 7:38 pm

    Isn’t there still some closing costs to consider when you cash out at the end of the lease option?

    • Chris Goff

      August 31, 2017 at 1:18 pm

      Of course there is and depending how you close the deal.

  • Joshua Stackhouse

    August 30, 2017 at 7:48 pm

    Hey Chris. Thanks for this content!
    I have been very excited about this information. That said, I have encountered the conflict when doing lease options and whole sale deals, if you advertised yourself as an actual cash buyer and you never actually intend to buy the house and don’t even have the funds to buy the house if needed, that can be considered fraud. Yellow letter mailings stating “I want to buy your house” isn’t truthful right? Isn’t there a way to be more transparent so as to not come off as someone you’re not? -“I do sweat equity work for investors and I’m looking to help someone like you sell?” Wouldn’t that be better? Nothing negative here just sincerely inquiring. Thanks Chris!

    • Chris Goff

      August 31, 2017 at 1:24 pm

      You should always come across as a buyer, nothing else. Your goal every time is to buy, not sure how, since there are several strategies and every seller is in a unique situation. Joshua… are you seeing where I’m going? Anyways, the suggestion you made sounds fine to me. Do you know what’s sad? Why does it even matter who buys the home if everyone is happy.

    • Justin Carter

      September 1, 2017 at 5:52 pm

      hey Chris is the training from the event on sep.16 and sep.17 be posted for reipro paid user if we cannot attend

    • Chris Goff

      September 1, 2017 at 6:20 pm

      You can advertise that you buy houses if you are buying them. Buying houses doesn’t mean you pay just cash, you can buy them on terms. Keep this in mind! Seller financing, you are the actual buyer

    • Chris Goff

      September 1, 2017 at 6:20 pm

      Sorry, it’s a live event.

  • Cliff Totherow REI, LLC

    August 31, 2017 at 4:03 am

    Why is ARV so important in this process? You can’t make any repairs to get the property to it’s potential ARV, right? I’m trying to understand why you justify paying full price by claiming it’s okay since the ARV is much higher than the asking price.

    I get that you can sell for a higher price due to the terms it’s being sold on, I just don’t understand how any bank is going to approve a loan for more than appraisal value. They don’t care about ARV, only it’s current value.

    Thanks!! (start at 39:00 for reference)

    • Chris Goff

      August 31, 2017 at 1:34 pm

      Cliff, the loan is never going to be more for the appraised value and the ARV is important. The example I went over, you are correct, the ARV is higher than the asking price. The after repaired value must be determined to not only justify your price when buying it from the seller…. BUT, selling it to a new buyer. Without it, you can’t ethically do deals. We are paying Full ‘Asking’ Price, not the ARV of the home. No bank is going to loan more than the property is worth and I’m not saying they will. You have to keep in mind that the down payment is credited to the purchase price and the purchase is in the future but in this example, it doesn’t even matter because the buyer is buying it below what the ARV is. Hope this helps

  • Cliff Totherow REI, LLC

    August 31, 2017 at 4:06 am

    Can I do a lease option sandwich with a property that is listed on the MLS? The listing agent will likely not allow the buyer to speak to the seller to explain how a SLO works. The listing agent will also not be likely to advise the seller to do the SLO, especially if the agent is unfamiliar with it.

    I would assume it would work just fine IF the seller accepts your offer. But how/when does the listing agent get paid their 3% commission? Thanks again!!

    • Chris Goff

      August 31, 2017 at 1:38 pm

      It’s always harder working this business with Agents and if they knew how to do what you do, they’d be doing it. BUT… some agents are great to work with and those are the ones you can make Lease Option offers to. There are several ways to work with agents but I will give you one idea. They can get their commission when the new buyer buys. You should check out our live event where we can go into more detail about this business at: https://www.chrisgofflive.com/

  • Yamilee Dubois

    August 31, 2017 at 1:40 pm

    Can you explain more just a straight Lease Option (not Sandwich). what contracts are used for both seller/buyer? The option payment that you put on the seller and buyer contract wont they both see that at closing?

    • Chris Goff

      August 31, 2017 at 2:57 pm

      There’s a lot to this question but I do cover this in detail at our live events. https://www.chrisgofflive.com/

    • Yamilee Dubois

      August 31, 2017 at 3:37 pm

      unfortunately I not able to get access to this link Is there another source where I am able to obtain this information

    • Chris Goff

      August 31, 2017 at 4:09 pm

      I’m sorry but unless we do a free webinar on this specifically, there isn’t any other way.

  • oldskool funk

    August 31, 2017 at 10:53 pm

    Hey Chris, where can we buy your contracts? And which contract do we use please?

    • Chris Goff

      August 31, 2017 at 11:08 pm

      1) Go to: https://www.myreipro.com/
      2) Sign up for 30 day free trial
      3) Once logged in, click the ‘Tools’ button at the top
      4) Select ‘Contracts’
      5) Scroll down to Lease Option Agreement and purchase
      6) Done

      This package contains all the contracts and video training to do the lease option business. Hope this helps.

    • oldskool funk

      August 31, 2017 at 11:50 pm

      Thank you so much Chris I appreciate all your help

  • EN ROUTE

    September 2, 2017 at 10:00 pm

    So the rent is just rent for the buyer right? It doesn’t go to the buying price?

    • Chris Goff

      September 5, 2017 at 1:37 pm

      You are correct!

  • Yamilee Dubois

    September 3, 2017 at 12:42 pm

    so what happens when you go to seller who agrees to lease with option to purchase and they ask for your credentials like credit check etc? And your credit is not that good?they obviously would not want to lease and/or assign their property to you correct? so you wouldn’t be able to use this type of investment

    • Chris Goff

      September 5, 2017 at 1:37 pm

      In the unlikely event they ask… and if you do not want to give it to them…. then they’re not motivated and move on to the next one.

  • Tenille Medley

    October 10, 2017 at 2:51 am

    hi, I missed this live event as I am just now seeing your videos. When do you plan to have another live event, and where will it be?

    • Chris Goff

      October 10, 2017 at 1:47 pm

      Sorry you missed it and yes, we will be posting our next live event very soon at: http://www.chrisgofflive.com

  • J. Morgan

    October 14, 2017 at 4:52 pm

    What if you can’t sell the house within the two years?

    • Chris Goff

      October 19, 2017 at 1:19 am

      You can walk away and give it back to the seller or… ask for an extension.

  • jahnel bowman

    November 17, 2017 at 2:38 pm

    Hey Chris! I have learned so much looking at your videos I’ve been putting into action everything you discuss in the videos regarding lease options. I wish I would have ran across you and your material before I invested thousands of non ROI dollars into my real estate education with the so-called gurus!! So, here’s the deal… I’m getting calls from my marketing however, what I’m finding to be difficult is knowing how to deal with seller objections- particularly from Landlords who say they are not interested because they can do a lease option if they wanted to themselves. Can you explain how we should handle those calls? Or, if you can shoot me in the direction of one of your videos that covers dealing with seller objections?

    • Chris Goff

      November 17, 2017 at 3:08 pm

      Thank you for the comments! This is a BIG questions so what I would recommend is that you attend my upcoming live event where I go into detail about Lease Options. You can learn more at: https://www.chrisgofflive.com/

  • Tavon Littles

    November 21, 2017 at 11:45 am

    what happens at the end of year 3 if none of your buyers actually purchases the property? what does that mean for the original contract between me and the seller? does the agreement just end and we go our separate ways?

    • Chris Goff

      November 23, 2017 at 5:51 pm

      Hi Tavon, I would recommend attending our upcoming event to learn everything about this strategy. https://www.chrisgofflive.com/

  • John Walter

    January 16, 2018 at 9:13 pm

    Chris Goff, before taking the 30 REI Free Trial might there be a few steps or support offered to help ensure nothing gets screwed up ?

    • Chris Goff

      February 5, 2018 at 2:50 pm

      Once you sign up, we do offer customer support and training videos to help walk you through the system. It is free for you to evaluate and if it’s not for you, just cancel. This tool has helped thousands of investors and is growing every day. Check it out: https://www.myreipro.com/

  • Nichole Turner

    February 23, 2018 at 8:25 pm

    I came across two questions that i am confused on while reading questions and comments.

    (So the rent is just rent for the buyer right? It doesn’t go to the buying price?)
    (Hi Chris, in your example you have the new buyer paying $1,500 per month to you, while you pay $1,200 to the seller. Does either one of these monthly payments, or a portion of, being deducted from the purchase price, or is it only the deposit that is deducted from the purchase price? Hope to hear from you on this question. Thanks.)

    The payments that i am paying to the seller for the year i’m waiting for the buyer to qualify for loan does not go towards purchase price?

    Since its just rent for the buyer. How do i explain to the buyer a year of their payments would be for nothing?

    • Chris Goff

      February 24, 2018 at 12:29 am

      Hi Nicole, I see you have a lot of questions which is great and I’m happy to answer them all our live event in Houston Texas on March 24-25 – Learn More at: https://www.chrisgofflive.com/

  • Nichole Turner

    February 23, 2018 at 8:30 pm

    my biggest issue is estimating repairs and knowing what i am looking for. is there someone i could hire to look at properties with me to estimate those repairs although i wont be the one doing the repairs? i plan to wholesale and lease option.

    • Chris Goff

      February 24, 2018 at 12:29 am

      Hi Nicole, I see you have a lot of questions which is great and I’m happy to answer them all our live event in Houston Texas on March 24-25 – Learn More at: https://www.chrisgofflive.com/

    • Nichole Turner

      February 27, 2018 at 6:05 am

      I really want to come to the conference but my mom advised me not to because my car keeps cutting out. she don’t think it will make the 8 hour drive. is there any other way to learn this information. I really want to get started succeeding at real estate investing. I’ve tried for many years and still have not done my first deal. I have many questions. what else can I do? your teaching is the best I have come across

    • Chris Goff

      February 28, 2018 at 7:47 pm

      Hi Nicole and thank you for the positive comment. The conference is going to be the best way to learn but if you can’t make it, then the REIPro investor software will be your best bet and a must have tool for anyone in real estate. Not only does it help walk you through the process, it provides you with all the info you need to close a deal. You can try it for 30 days for free: https://www.myreipro.com/ We also provide on-going training and webinars that will help.

  • Nichole Turner

    February 23, 2018 at 9:26 pm

    Do you have recommended mortgage brokers in rei pro to pre-qualify buyers?

  • KillerKlown 411

    March 6, 2018 at 7:49 pm

    will you ever be holding an event in the Omaha/Council Bluffs area?

Comments are closed.

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