Someone Help Me With This Texas Lease Option Thing.
I have been an investor for years but decided to throw my hat in the ring for Lease Options. Bought the course started getting rolling on phone calls from distress buyers ...started planning my exit strategy with buyers using "Lease Option to buy" and then all of the sudden I come to a screeeeching HALT when I ran across an article about the Texas Legislation and lease options. I am basically picking up properties subject to with the intent of lease optioning or renting.
I KNOW there has to be a way lease option type agreements can be structured properly and can be done in Texas and I am sure there are some brain children investors out there that have already created contracts and such to work around this. If someone can throw me a bone on some contracts and methods to try to stay out of a pickle...I would be happy to co-op some deals that I have in the pipeline in exchange for the service and partner up some deals. Experienced investors only please. Something like this needs to be handled properly.
Thanks in advance! (Where is that lease option King at...that dude has his stuff down..ha ha)
I have a professional associate of mine that is very successfull with lease options in the dallas/fort worth area. What he does is highlight in bold that lease options in texas are not legal and that he engages in contracts with al;l the benes of L/O but he offers a full refund if they complete the lease but do not buy. His business is very strong. He has l/o 4 of our houses in Frisco/mckinney. I hope this answers your question.
Sorry Wrong Forum