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Greetings from O'Fallon, MO! Here's one to think about. I am a full time realtor and have had LOTS of folks looking to lease or lease purchase for most of the OBVIOUS reasons that are happening today...foreclosure of their primary home being the typical scenario. If you are leasing your own PRIVATELY owned place..........how would the person that's going to lease it from you know that YOU are not in default on the rental property or close to foreclosure yourself? I've had a few families call me in the past couple of months that had been put in EXACTLY that situation. Imagine how that would feel. They paid LOTS of money upfront for up to 6 months of prepaid rent, plus deposits...........then to have the bank show up and put a notice on their front door that THE BANK has taken the RENTAL home back. They're out of....a place to live with their children, AGAIN......money, that they already gave to a shady owner and will probably NEVER get back.........and luck. I NOW advise folks to ONLY think about leasing from a REPUTABLE LEASING COMPANY that has already done the background on the properties AND their owners. You will get LOTS more action if you lease it with a company that's been AROUND A LONG TIME and has a track record in our area. I can point you in the right direction........give me a call!

Hi Jay!

I agree with the folks below - both our offices are recieving more and more calls for lease/options. We have the leads and we have the forms.

However, if you'd like to try it on your own I would recommned craigslist.org and backpage.com

Good luck -

If someone gives you a lease option contract, do you know what to look for to make sure that it is valid? I ask that because even as a Realtor, I see a lot of lease options where the property is leased, but a year later the person who leased it choses not to or still can't exercise the option to buy the property (bad credit and can't get a loan primarily), then the owner is stuck. With tenant rights it can be very difficult to get a tenant out especially if they are paying the rent (even if it's late or if they are only paying a partial rent, if they are paying something, legally you can't kick them out without going through the legal system and giving them notice - Missouri is one of the hardest states to get rid of a bad tenant). The other problem, is that as a tenant, you don't have the right to just pop in and check on your property and often the tenant doesn't take care of it well. Then when you do get them out, the deposit doesn't take care of the damages and you have to spend money to fix up the home in order to sell it. I would seriously talk to a real estate lawyer and make sure that you have a good lease option contract to use as well as make sure that you do a thorough background check before you get into a lease option (I actually had a person contact me a few months ago, she was in a lease option contract and had decided she no longer liked that house and now 8 months into that contract and 4 months before she was supposed to start buying it she wanted to end that contract and get into a different one). You may see it as a lease option, but too many of the buyers see it only as a lease and a maybe I'll buy if I still like it in a year. As a realtor I guide people carefully through the paperwork when they come to me and ask me to do a lease option for them to make sure that is really the best option for them. Often we can find someone who will buy their home outright instead.

Jay,
Why not let the Realtor post your listings to the correct websites? Realtors can also handle lease purchase/rental properties. In this market and especially with the crackdown's on the lender/loan officer sides, this is becoming even more commen than it used to be. I am a Realtor in O'Fallon and I know that I am getting more calls from people looking for rental properties this year than I did last year. Feel free to search my web site to see how many homes there are for lease or lease option now. Good luck!

Jay, you should just find a lease option buyer by purchasing some lease puchase leads from http://www.MotivatedRealEstateLeads.com or other real estate lead broker sites who have lease purcahase tenant buyer leads. Or you can market yourself and find one.....but it is a lot easior to just pay a few dollors to get one.