Question RE: Lease Option/rent To Own?
Thanks to Lease Option King for his reply on the Laws in Texas that have passed regarding Lease Options.
I am pretty new to investing and have only dealt with preforclosures to this point but have recently studied alot of Lease purchase techniques and then found out that Texas passed legislation limiting lease options in Texas.
I still see alot of ads referring to "rent to own" etc..
these are typically lease options and I am wondering what I can do to still utilize this profitable form of investing, there has to be something.
Anyone with suggestions or answers I would greatly appreciate the help.
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Thanks Again....
So you would suggest sticking to other forms of investing at this time...
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I would suggest leasing the property without an option but with a "First Right of Refusal" to buy the property at FMV at the end of the lease. However, you cannot allow any part of the down payment or rent credit to be applied or you will be in violation (it may be called a disguised sales contract).
Your other options in Texas are to do a Wrap, or just place the property in a land trust and do a triple net lease with first right of refusal. Good luck to you.
Da Wiz