The lease option strategy is a great way to leverage your real estate investments because it provides a great alternative for someone who wants to buy within the next 2 years, but whose current situation would not allow them to buy. Here are some examples:
Your out-of-state home has not yet sold but your job has moved you to a new city and you need the proceeds from your out-of-state home BEFORE you can buy.
You have credit challenges but are working diligently to improve your credit enough that you can qualify to buy a home
You will be receiving a significant bonus, settlement or inheritance tat will provide you with the funds necessary to buy
The lease option is more of a financing alternative…
List Price $595,000 - 20533 74th Avenue SE, Snohomish WA
Beautiful Montare, 2 story home in the desirable Maltby area rests on a gorgeous landscaped lot, with huge Trex deck for a backyard retreat. Gracious entry w/main floor office, formal living/dining rooms. Convenient upper level laundry. Chef's kitchen adjoins family room for easy entertaining. Upstairs master bath remodeled w/claw foot tub and xl shower. Huge bonus room, ideal for pool table or exercise room. Sprinkler sys, central vacuum, A/C. Lovely neighborhood with walking trails and parks. Easy access to 522, Hwy 9.
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The draft problem with most fireplaces in tightly-built homes is that the fire lacks sufficient air for combustion unless a window is open. Sometimes this produces smoke indoors. Fireplaces in older homes didn't have this problem because leaks around windows, doors and framing provided plenty of air for combustion. A fireplace with an inadequate air supply can be dangerous. As a fire is starting or going out, it may back up dangerous carbon monoxide into your home. A fire with a strong draft can also interfere with the natural venting of a gas-fired water heater or furnace, causing a backdraft of combustion fumes into the home. Any gas-burning appliance vented by gravity up a chimney can have such a problem. One