Call and Put options on Real Estate.

[waz11]

Hi,

I was hoping to get a few questions answered in regarding to taking out Options on property.

Are there stages of the property cycle that this would work best in?

What was it that made the purchase of the option successful? Can anyone please provide a working example for me with regards to this? As in how the offer is option is presented to the vendor, convincing ways to make the vendor accept etc...

Has anyone bought an option on a property and on sold it shortly after? What were the benefits of this? Was it a relatively quick way to make a dollar? What were the pitfalls? How hard was it to find another buyer to onsell the option or to onsell the property to?

Any info would be greatly appreciated,

Waz11

 

[quiggles]

Waz,

No personal experience, but you might search michael croft's posts. I recall him saying at one gathering that he had bought options - generally for a reasonable figure - then would get DA for the property (that was a condition). Whether he redeveloped or onsold I don't know, but a search may help.

 

[geoffw]

An audio CD which covers options as applied to property in Australia is Options Made Simple by Rob Balanda ($149). It covers a fair bit of ground- not a great deal of depth, but enough to give an idea of what is available.

 

[waz11]

Thanks for that..

waz11

 

[JoannaK]

Hi Waz11,

try having a look at this thread...

http://www.somersoft.com/forums/showthread.php?t=14497&highlight=Call+Options

hope it helps.