What is a Lease Option strategy? You may have heard this name or others similar like, Rent-to-Own, or Lease-to-Own. These strategies are very much alike, in that the tenant (or optionee) first rents or leases from the landlord/owner of the property and then by the end of a set term, they purchase the property for a predetermined price.
This type of real estate strategy is one of the most favorable types of real estate investments since the landlord/owner requires minimal or no maintenance of the property at all while the tenant/optionee has a place they can call home even though they have not purchased it yet.
Like any investments, there are risks involved. The tenant/optionee may walk away from this deal if unexpected circumstances arise and they can no longer afford living in the home. The landlord/owner may be left with a property that may or may not be able to sell at the predetermined price. However, with proper and careful screening and due diligence of both the tenants as well as the property itself AND having a well defined exit strategy, the likelihood of these risks are minimal. Even when mishaps do happen, our team at CE Properties is here to help you find the best solution!
If you are interested in learning more about this type of real estate investing, feel free to contact us and we can provide a one-on-one consultation with you to go through each step of acquiring and implementing the Lease Option strategy and making it a successful investment!