Northern Virginia Real Estate: Is a Lease Option a Good Way to Sell a Home?

Today, I want to share what is the least option from a seller's perspective, and if that's an excellent way to sell a home.

If you're thinking of buying through a lease option, this may not be viable, but if you're an investor. You want to INCREASE your CASH FLOW; you can set a set date of 18 months - 2 years from now, and you will be able to lock in how much you're going to sell your property for assuming that the buyer exercises their option to buy. 

How can you increase your cash flow as an investor? These are a few examples:

  • Rent could be at $1500 for 1-2 years

  • On top of that, they could pay $500 a month for an option deposit, which would go towards the purchase of the property, but if they don't purchase the property, then the money will be forfeited.

With these said, it's a win-win situation for both the buyer and seller. As a seller, you will have protection, and as a buyer, you would know what you're going to get, and it's a chance to improve your credit.

I sold two lease options in the past:

1. I sold to an immigrant, and he had a low salary, and even with that, he was the best tenant I ever had, he did have some challenges at the end to be able to purchase the property, So, I was able to guide him through that process and extend his lease. 

2. I sold a higher-priced property to a lawyer, and it was the worst, to be honest. Not only was it the 2nd eviction I ever had to do, but she also tore up the house and left a big mess I had to clean up. I don't think anyone would want to experience that.

As we all know, experience is the best teacher.

If you're interested to learn more about Real Estate Investing or tips and strategies about Real Estate, you can reach me at 703-346-2776 or send me an email at Dan@greetingsvirginia.com. We will be more than happy to help you.

Dan Rochon

Dan Rochon is an Associate Broker in VA, Broker in MD; Owner of Rochon Investments, LLC; Owner and Co-founder of www.GreetingsVirginia.com and Owner of other Joint Ventures as well as a real estate principles instructor at Moseley Real Estate Schools.

As a real estate sales agent, Dan and his team are consistently top producers in their marketplace and provide solutions for their clients. Through their investing company, Dan and Traci Rochon have been investing in residential and commercial real estate ventures for more than the past decade.

Dan and his wife Traci are frequent speakers and are often quoted in media stories about the current real estate market. The Rochon's have been featured on The Nightly News with Brian Williams, The Today Show, CNBC, The Washington Post, The Washington Examiner, WTOP News, Voted as The Best of DC Real Estate Agent in the Washington City Paper Readers Poll, and more...