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How to take advantage of the opportunities created by the lease-option deal structure. How to avoid the many unknown pitfalls of lease-options.
With the right terms, a lease-option can be a great way for a marginal would-be home buyer to buy a home. But with the wrong terms, which is by far more common, a lease-option will set you back years and make it harder to buy a home.
The same is true of investors who want to use lease-options to control properties and their appreciation without having to make normal down payments and take on the normal risks of ownership.
Landlords who want to use lease-options to increase their income and reduce their management need to be far more careful than they have been told by the bad gurus.
The biggest overlooked opportunity is being a third party investor who buys into a profitable lease option that the tenant does not have the financial strength to exercise.
Real estate agents are far too ignorant of the laws pertinent to lease-options to be getting involved in them before they read this book.
Don't do a lease option of a single-family house or condo until you read this book. If you already have a lease option, read this book before you take another step. The book covers how doing a lease option might cost you an exchange, prevent eviction, get your property reassessed, be unethical, force immediate pay off of your mortgage, cost you your depreciation deductions, loss of home mortgage interest deductions, and more. Lease options are far more complicated than most real estate investors know. The consequences of that ignorance can be severe.
Thank you for writing such an excellent book in "Single Family Lease Options." I am preparing to secure an option as the lessee/optionee and reading your book in one sitting has been more useful than four weeks of online research. Instead of theory and speculation, I now have a focused checklist of action steps for closing my deal. Super stoked about this!
- Jay Cross
$29.95, 68 pages, 8 1/2 x 11 paperback