What to do when buying a property using lease options to buy.
“ If you are going to lease opinion from the seller, what the seller has is the deed to the property. What you want to do with that seller is to create a situation where you can get the deed when you want to exercise your option to buy. What I suggest is that seller’s deed be placed in escrow.” – Lou Brown
For more valuable information click on this link and watch the complete episode: https://youtu.be/FUNhhxiFVhM- “Seller Finance Confusion? Best Lease Option Strategies? Lou Reveals All”
https://millionairejumpstart.com/
Discover how to start investing in real estate at Millionaire Jumpstart.
* Money Making Secret #1: Getting Motivated Sellers to Call You! No more calling unmotivated sellers and getting rejected more times than a geek for the high school prom!
I’ll show you how for over 28 years, I’ve been able to get deals brought to me and motivated sellers hunting me down to give me their house.
* Money Making Secret #2: The Art of Structuring Deals! I’ve been doing this for 40 years and I love to share how I get sellers to give me the house, a check, and even a jet ski or two.
* Money Making Secret #3: Negotiating Secrets Revealed! I love to negotiate, just ask Matt, one of my hand-picked coaches. We recently went to an estate sale and he witnessed me structuring a deal to buy the house and contents right there on the spot.
* Money Making Secret #4: Trusts Simplified! A little confused on this entire Trust thing? Why to do it? How to do “Subject-To” safely? I’m going to show you my new fundamentals of Trusts training that will simplify the concept of Trusts, so a 9-year-old child can understand it.
* Money Making Secret #5: Develop a Plan for Success in Real Estate. The wealthiest man ever to walk the earth left clues for us on how he amassed his great wealth and kept it.
How to Help People While Helping Yourself – Become a Certified Affordable Housing Provider™
Create Your 10 Million Dollar Retirement Plan – specific formula revealed
Learn Hidden Profits Available in ANY Deal – worth thousand$
How to Take Over the Seller’s Loan with NO Money
How to Have the Seller PAY YOU to Buy Their Home – no kidding!
Buying Without Bank Loans – over forty years and never one bank loan!!
Easy Ways to LEGALLY Raise Big Money for Your Deals
Renovations – Quick Ways to Safely Make Huge Cash Now
Money-Making Management Secrets from a 40 year veteran who manages over 150 now
Accelerating Your Cash Flow – Add built-in “Profit Centers” – extra hundred$ per month
Case Studies: Secrets of How They Were Found, Negotiated and Sold
How to Protect Your Deal from Someone Else Stealing it
Legally Pay ZERO Taxes on Your Real Estate Portfolio – simple structure worth thousands
Having Tenants Leave Your Property in Better Condition than When You Gave It to Them
Why Land and Personal Property Trusts are the Best Privacy and Asset Protection
Benefits of Trusts You Cannot Get With ANY Other Entity
The Due-on-Sale Clause – What it is and How to Avoid it Legally
And MUCH More
Attend this power-packed “one-of-a-kind” best of the best training on making money in real estate investing!
Call 1-800-578-8580
Listen to our Podcast:
https://streetsmart.mypodcastworld.com/11173/what-to-do-when-buying-a-property-using-lease-options/
Scott Paton:
I know you’ll love this one. Lease option with a seller. I can’t buy in a land trust. I think you said you don’t need an LLC to use when these optioning from a seller. What do we use? I think you said we don’t need an LLC.
Lou Brown:
I’m not clear about what you mean that you can’t buy in a land trust. What the seller has at, if you’re going to lease option from the seller, what the seller has is the Deed To The Property. What you want to do with that seller is to create a situation where you can get the deed when you want to exercise your option to buy. So, what I suggest is that that deed, the seller’s deed be placed in Escrow. In other words, with the sellers full cooperation, knowledge and consent that they sign a deed it’s placed in Escrow with Escrow Instructions that essentially States that when you do what you said you are going to do, then you can get the deed from this third party. And the reason this is so important, because that owner of the property, they could pass away, they could get into a lawsuit.
They could have all kinds of issues that could prevent you from getting your deed at the appropriate time that you want to exercise your option. For example, when your buyer wants to buy the property, we want to be able to deliver a deed to them. So, in my volume 9 lease options, and you can go to www.StreetSmartInvestor.com and then pull down the tools menu and look at volume 9 lease options. And what you’d be able to find is the whole full system where we have those Escrow Instructions in there. But, I would not buy a property on a lease with the option to buy from a seller without that deed going into Escrow.
