I know we just had a big discussion of lease options, but this discussion got me reading, and now I have a couple questions. I understand none of yall are giving me REAL legal advise, but a little guidance would be greatly appreciated.
First off, everything I read suggests that lease options can still be executed, if performed correctly. Are any of you doing this still? If you are have you recently spoken to an attorney about this form of buying/selling? What advice were you given?
Also, it now appears that the legislator has specifically put laws into place to prevent sandwich leases. Can anyone verify that? If it's true can anyone offer another suggestion?
The sandwich lease option method was the most likely method I was considering using. It fits my area very well. There are not alot of investors in my area that I could count on as "buyers" if I was to try and wholesale, so I had to come up with a program where I didn't have to rely on other investors for every one of my deals. The sandwich option seemed the best, until I found out it may be illegal.
I have no cash, medium to bad credit, and I am having trouble coming up with another way to purchase or control a property in a way I can make a profit, either quick or longterm. Any advice would be welcome. Thanks.
