841 Talking Lease Options with Ray Shurman
I love meeting with students and seeing how they\u2019re making lease options work for them. And Ray Shurman from America 2nd Chance is proof that you don\u2019t have to stick with just one way of doing business. He shares how he started with lease options and tenant buyers, and why he moved into fixer-upper lease options (FULO).\n Ray must be a quick study because he\u2019s only been doing this 2 years. He shares how he structured his first deal with tenant buyers, and why he likes to keep the terms simple. He\u2019s found that simple terms help everyone involved feel like they\u2019re not being taken advantage of.\n One of the beauties of lease options is that you\u2019re not limited to distressed properties. So Ray uses that to find solid deals that promise great ROI. He shares how he finds leads with expired FSBO listings.\n And this part was really cool to me; Ray\u2019s doing something a little different with wholesaling. Instead of offering lease options to tenant buyers, or just buyers, he\u2019s offering lease options to rehabbers. He finds rehabbers with a great reputation and partners with them.\n He calls these fixer-upper lease options (FULO), and they require a little different deal structuring. He talks about how he seasons the deal in a trust to fulfill FHA requirements and the benefits of partnering with a rehabber.\n Instead of getting cash right away, the FULO offers you cash a little bit down the road. And the beauty of this is, if the rehabbers don\u2019t sell it on time, you\u2019ve still got a beautiful house to sell. It\u2019s a great win-win situation for everyone involved.\n What\u2019s Inside:\n \u2014What a FULO is and how to use it.\n \u2014How Ray finds deals and leads.\n \u2014Why you don\u2019t want to use a tenant-buyer in a FULO.\n \u2014Why he puts the houses in a trust to season them.
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