Hi, it’s Lou Brown. I’m back with another of my 101 cash flow accelerators. Where I’m going to help you to become a multimillionaire in the real estate business. It’s been a fabulous business for me. I love it. It’s been incredible. One of the things we started doing in the last video was talking about giving our residents the option to purchase and how that can be so much better for you. You can end up with a better resident at one point I want to make about that is we have them pay what’s called NROC, Non-Refundable Option Consideration. What that means is that once they pay that money, and I want you to understand this, they have purchased merchandise. The merchandise they purchased is the option to purchase that property, so as a result of purchasing that option they have paid for that, well when they pay for that.
That’s non-refundable. Now as a bonus, as an incentive to our residents. What we will do is we tell them when you exercise your option to buy, we’re going to give you X dollars towards consideration at the time of your purchase of the property. In other words, we’re going to give them a credit. Now that credit can either be out of an amount that’s equal to what they paid you originally for the option or it could be some other number. Now my paperwork allows for that. That’s in lease options, volume nine StreetSmartInvestor.com click on tools open that up. Volume nine is Lease with the option to buy. One of the things to say about that is that we can both buy a property with a lease with the option to buy and we can sell a property with a lease with the option to buy. Now we do have different paperwork for each side. All that transactions always know that we’ve got the system separated into two parts. Buying versus selling. And to give you some documentation, some protections, some negotiation that can benefit you.
So hopefully this has been of benefit to you. To learn more about our systems, go to StreetSmartInvestor.com. Definitely want you to join us at the upcoming Millionaire Jump Start that we do four times per year. You can learn more about that at MillionaireJumpStart.com hope this has been of value. Like it. Love it. Share it. And do subscribe. See you soon. Yeah, baby!
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