A few weeks ago, I emailed you requesting Bronchick's Lease Options Workshop that you had recommended at Lonnie's seminar. Well...here is the story.

Two years ago I dropped out of the corporate world and started flipping houses. As always happens, we had one house that just would not sell. I swear that Mr. Murphy lived there because his law was never more true! Several offers fell through for financing, one buyer just disappeared...you know the stories.

One day I was telling our Realtor about Lonnie's seminar and mentioned that I was going to get more information on lease options. The next day she called with a potential L/O candidate. A few days later she called with a second...no advertising, just people she knew.

We just settled the deal. The numbers look like this. Today's list price $77,900. We agreed to a one year option: Rent $800/mo Strike price $81,000 Option premium $2900 Rent credit $50/mo. If the tenant needs a second year, we have suggested a second year option premium of $1600, rent $800-850, rent credit $50-100, and a strike price of $83,500. Not too bad for a house where we have about $61,000 invested.

On another house that we are presently renovating we had six "rent-to-own" calls in the first three days. We didn't L/O the house but we did just sign a contract to sell the house. We'll net 18% in less than two months!

I guess there is something to this L/O stuff. Thanks for your help and prompt response to my request for help.

Dennis Hocker