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Jon Holdman, Flying Phoenix LLC

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F. Insurance they have extra liability protection when they lease option to me. I carry a $1,000,000 liability policy on properties that I don't own and am only optioning. This liability policy is really to protect me, Nike Jacket Khaki however, if something really bad were to happen on this property, this insurance would be utilized in a defense, which would also protect the owner of the home.

When you do a sandwich lease option, you both a tenant and a landlord, with all of the downsides of both. Tenants trash your property, you pay to fix it up. Tenants don pay the rent, you have to pay it to your landlord anyway. Tenants want to exercise their option to buy and your landlord won follow through with selling. You get sued. Landlord doesn make his payments and the house goes to foreclosure? You and your tenants get kicked out. You get sued by tenants.

To answer a small part of your question they have something called Pat Live. answering service that you can have a live secretary field your calls when your out and schedule apts and take messages. they can screen calls and funnel them to different places too. for example if I was trying to sell a home and i wanted these message boxes one for credit buyers another for buyers with down pmt but no credit and the 3rd in another message box. This way your not spending your days doing secretarial work when you want to be adding value or getting deals. The service is far cheaper then a secretary and better then just the answering machine on your cell phone. PatLive is an easy internet search.

1. In a sandwich lease, what happens if the tenant trashes the property?

1. In a sandwich lease, what happens if the tenant trashes the property?

A Few Questions About Sandwich Lease Options

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not pay, every pay period, not every month.

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deal, and how often can you do one? Do you do it full time or part time?

Thanks in advance for all replies, advice, stories and anyone who doesn say something like "use the search button you nab" I been searching this forum for about 7 hours today. and these are the questions I left with.

Okay, so here are my 3 questions!

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I wanting to start part time, as I have a job and work 9 5 M F. Won that make it harder to show properties and answer the phone if I at work all day? I guess voice mail and weekends it is? lol

I like to hear some real life stories/brags from people who are doing lease options right now. What is your best deal in the past 12 months, and what is a typical Nike Windrunner White Mens

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If the property is vacant and no rent is collected, then no rent is due.

F. Insurance they have extra liability protection when they lease option to me. I carry a $1,000,000 liability policy on properties that I don't own and am only optioning. This liability policy is really to protect me, however, if something really bad were to happen on this property, this insurance would be utilized in a defense, which would also protect the owner of the home.1. tenant is responsible for damage, but collecting on a judgment is an issue. create a note with interest for option payments, and get it with collateral in case they do Nike Sportswear Tech Fleece Windrunner Men's Hoodie

tenants trash property you can sue them for damages caused by them but your also liable too since you also have interest in the property and have responsibility to owner. The key is getting a big enough down stroke when they move in to reduce the risk of them trashing the place. The larger the down pmt the less likely this will happen.

FYI, in a sandwich, consider using a performance clause, like

3. What does this below statement mean? Can you explain it?

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The insurance question would be a great question for any insurance agents here reading. I will say some policies you can name multiple parties on the insurance but. I am always worried about that because who gets the money it can be a mess unless its spelled out. Liability insurance is like paying to defend yourself because the insurance co that is insuring you will be sure to attempt defend you rather then pay out a settlement that they the insurance co must cough up in the event of a law suit like a person falling on the steps.

2. If someone says they can only do $3000 option fee, and you wanting $4000, and you can get them to agree to doing $100 per month payments for 10 months.

Hi, I recently become very intrigued with the idea of lease options. With every type of real estate investing there is a person hyping it up and saying what it "could be" and they make the numbers look real good.

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3. An umbrella policy for your company, your independent insurance person that works with property can help.

Having the credit check in place and screening out poorest credit buyers helps too but if they could get a conventional loan they might not be knocking on your door for a deal anyways.

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2. If someone says they can only do $3000 option fee, and you wanting $4000, and you can get them to agree to doing $100 per month payments for 10 months.

3. What does this below statement mean? Can you explain it?

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