Controlling a Property with an Option

Don Wede, I’m with Heartland Funding Incorporated. I’m here at the Bureau County Courthouse in Princeton, Illinois today on March 13, 2017. Went in to do a little property inspection as far as public records on a parcel that uh, is in DePue, Illinois

 

Don Wede, I’m with Heartland Funding Incorporated. I’m here at the Bureau County Courthouse in Princeton, Illinois today on March 13, 2017. Went in to do a little property inspection as far as public records on a parcel that uh, is in DePue, Illinois. Uh, went into an agreement with John. John has a piece of property he’s been trying to sell for, goodness, I think a couple years now and with no luck. Uh, doesn’t want a lot for it but it’s needs a lot, a lot of work. I told him I’ve got a big project going on right now but maybe I could help him out anyhow. So, I did something a little different. Most people just buy a property, go under contract, pay cash for it and turn around and flip it. I did something different. I went into an option with him we did a little option contract. It gives me the right to control the property. Sometimes ownership is not the only way to deal with properties. I’m a really good marketer, so I told him look, I’ll find a buyer. Uh, I’ll step out of the way and you can close with the buyer and I’ll pick up a little uh, option fee.

So, that’s what we did. Uh, I’m going to market the property today, starting this afternoon. And do Craigslist ads and also put it on my site, hfiproperties.com. Thank you very much for watching this video.

 

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