How do you do Lease Option in TX without breaking the law. Can you provide a step by step method.
Thanks
Ronnie
I have a TX based friend who does lease options almost exclusively. When that law was passed and investors began jumping out windows, ::), he went to his attorney and had his contracts and agreements rewritten to reflect the new requirements. He is still doing lease options, and is in full compliance with the law.
Find yourself a knowledgeable real estate attorney, preferably one who is also an investor, and see what you can work out.
Can you refer me to an attorney who does this kind of stuff.
Thanks
Ronnie
Ronnie, I can’t. I’m not in TX. Your best move would be to speak with some folks from a local REIC.
Go to ebay and search for: lease option texas
Buy one of these courses, the guy is excellent
Anyone else???
Austin Real Estate Networking Club just had a meeting last night. A guy name Dave (?) just covered this. He had two pages that explained the law and requirements. It sure is a pain now.
Contact them to see who he was and if you want to join.
Yeah it is a pain now. the best route is owner financing. have them put money down, charge around 10 to 12 % interest or more depending on where you are, and then you make money on the back end. i have two properties i am about to do that with now.