I am looking into creative ways to help my clients to get into home on Lease Option and what is out there and how can I help?
5 thoughts on “Where do I go to find about Lease Option to purchase real estate?”
Leave a Reply
You must be logged in to post a comment.
Try Wendy Patton’s system (probably http://www.wendypatton.com). I have used it and it is pretty good and detailed.
There’s lots of stuff out there. I’m a Realtor and investor, and I do lease options. Contact me if you want.
There are also lots of web sites and programs out there addressing lease options. Here are a few:
L2P.com
I’ve bought their program. It’s pretty good. It’s also not "commercial"–it’s very practical.
http://www.lease2purchase.com/
WendyPatton.com
I’ve also bought her program. It’s quite good. She’s a Realtor as well as an investor.
http://www.wendypatton.com/
CREOnline
A big real estate investor web site with lots of material, discussion boards, and program. Definitely check it out.
http://www.creonline.com
Turn Key Investing by Matthew Chan
I have this book. It’s OK, but not great.
http://www.amazon.com/TurnKey-Investing-Lease-Options-Investment-Property/dp/0971394784/ref=sr_1_1?ie=UTF8&s=books&qid=1225470316&sr=1-1
Secrets of Lease Option Profits
An odd book. Very legal-based. Not good for explaining the process, but some good pointers if you already understand the concepts.
http://www.amazon.com/Secrets-Profits-Strategies-Virtual-Options/dp/1888699078/ref=pd_sim_b_12
Minh Pham
A real estate "guru" who got started with lease options. He’s branched out a lot now.
http://www.guaranteeprofits.com/
Jason Hanson
An up-and-coming real estate "guru" who specializes in lease options (as well as subject-tos and wholesaling)
http://www.primocoach.com/
There’s plenty more out there, but that should get you started.
I’m guessing that since you refer to "clients" you are a real estate agent or broker. If that is the case, your local association of realtors should be able to assist you. Of course you can search on the internet, but be careful as laws vary greatly from state to state. The department of real estate in your state may also be able to point you in the right direction.
I looked into this too as a Realtor and the best advise I got was from a real estate attorney who did a lot of these. There are two different ways to do seller financing. There is also a lease option and a lease purchase. The lawyer will be able to answer any questions you have. As far as the forms to use for the transaction, you can get them from your local or state associations.
Your question does not tell us in what country or state this transaction is to take place so it is not feasible to give an answer. How to approach any real estate transaction is state-specific as are real esate laws.
Here in the state of Texas, there are no promulgated contracts available for lease options. The reason for this is because the terms for a lease option are specific to the transaction. Therefore, a real estate attorney is best qualified to work up the contract for you IF you are in the state of Texas.